Steel is needed to manufacture everything from aircraft carriers to ironing boards. It is critical for construction and defence and contributes significantly to the national economy. But many countries can produce steel much more cheaply than the UK – notably China, which accounts for more than 50% of global steel production. Plus, the market is distorted by many factors, notably Chinese state production subsidies and US tariffs on imports and then there is the impact of Carbon Border Adjustment Mechanisms on production and global supply chains.

Where does this leave British Steel? To what extent should the UK government protect its steel sector in the interests of strategic autonomy, and of keeping the industry afloat? And do recent UK trade agreements make any material difference to our ability to buy and sell steel?

Joining our host, Chris Horseman (Borderlex), to unpack this are Chrysa Glystra (UK Steel) and Mattia Di Ubaldo (CITP/University of Sussex).