Peter Bone
Main Page: Peter Bone (Independent - Wellingborough)
Sajid Javid
I know that the hon. Gentleman means well and has fought hard for his constituents, but I am sure he understands that in trying to secure a deal, it would not be in the interests of such a deal if the commercial terms were discussed on the Floor of the House. When buyers approach us or approach Tata, many aspects will be commercially sensitive. Some potential buyers will not even want to reveal that they are in discussions, and we must respect that or we risk losing a deal. I hope the hon. Gentleman can respect that too.
Mr Peter Bone (Wellingborough) (Con)
Surely the only way to secure a long-term future for the British steel industry is to stop Chinese dumping. The Americans have imposed a 266% tariff on Chinese products. The British Government cannot do so because we are in the EU. Does the Business Secretary agree that it would be in the interests of the British steel industry if the Government imposed a 266% tariff now and worried about the EU later?
Sajid Javid
I know what my hon. Friend means by that, but I think that what he is really interested in, as I am, is tariffs that actually work. The right level has to be the level that actually works. The Americans might have imposed higher tariffs, but if they are too high they will hurt the rest of industry and consumers and they will cost thousands of jobs down the supply chain. Where the EU has imposed tariffs, driven by evidence, the results have been a massive fall in imports. In rebar, for example, a 13% tariff led to a 99% fall.