Thomas1195
Banned
Also you would not have to import American steel = saving foreign currenciesThe British Treasury for one. Reducing imports saves foreign currency. It also puts more money into your own economy.
If the British steel industry before world war one had been able to make and more importantly sell more in the process increasing steel exports and reducing steel imports that had two beneficial effects. The first is that the British go into World War One with bigger foreign currency reserves. Second the British steel firms would be making bigger profits which they paid British taxes on so that the British Government could pay more of the cost of the war from revenue and less by borrowing, which in turn meant a smaller national debt at the end of the war reducing the crippling debt burden the UK was under between the world wars.