The EU has announced an increased tariff on important steel, a move which could plunge the UK's steel industry into crisis.
Under the plans, the amount of steel which can be exported to EU countries has been halved, and any steel exports on top of that will be subject to a new 50% tariff.
Steel exports to the EU are worth almost £3billion to the UK, with member nations making up 78% of the overseas market for UK steel products, the BBC reports.
It comes as member states have voiced concerns about their own steel industries struggling to compete with cheap imports.
Stéphane Séjourné, the European Commission's executive vice president for prosperity and industrial strategy, said: "We have global over capacity, unfair competition, state aid, and undercutting in prices and we are reacting to that.
"Eighteen thousand jobs were lost in the steel sector in 2024. That's too many, and we had to put a stop to that."
It's another blow to the steel industry in the UK after the planned deal to scrap tariffs on UK steel sent to the US was put on hold indefinitely.
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Companies reporting today
Unite Group - Q3 Trading Statement