The government is considering nationalising British Steel as fears grow among ministers that the company’s blast furnaces in Scunthorpe could run out of raw materials within days. Chancellor Rachel Reeves has sought to reassure workers at the Lincolnshire plant that the government would consider nationalisation if necessary. US President Donald Trump has levied a 25% tariff on American imports of steel. British Steel has said its two blast furnaces in Scunthorpe are “no longer financially sustainable” and there are fears that without government support 2,700 jobs could be lost.
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