LONDON, June 25 (Xinhua) -- The British government on Thursday published detailed quota arrangements for a new steel trade measure that will take effect on July 1, confirming sharp reductions in tariff-free import volumes and higher duties on imports exceeding those quotas.

File photo: Xinhua

The measure will replace Britain's existing steel safeguard regime, which expires on June 30.

According to guidance issued by the Department for Business and Trade, tariff-free import quota volumes will be reduced by 60 percent compared with the current safeguard measure. Steel imports exceeding the quotas will be subject to a 50 percent tariff, up from the current 25 percent rate.

The government also published product-specific tariff-rate quotas covering 20 categories of steel products. The quotas will be administered on a quarterly basis, with the guidance setting out the products covered, the volume of steel that may enter the country tariff-free and the applicable out-of-quota tariffs.

The new trade measure forms part of Britain's Steel Strategy unveiled in March. The strategy sets an ambition to increase the share of steel used in Britain that is produced domestically to as much as 50 percent, up from around 30 percent currently, while supporting investment in the country's steel industry.