The United Kingdom has nationalised British Steel, its last operational steelworks, amid concerns that its former Chinese owners might shut down the facility. The UK government described the move, made on Thursday, July 16th 2026, as necessary to protect national interests.

British Steel is the sole source of primary steelmaking in the UK. By 2025, its Chinese owner Jingye reported losses of £700,000 ($942,000) daily.

China has strongly criticized the UK’s expropriation, with Beijing warning that the nationalisation has “severely undermined” Chinese companies’ confidence in investing in the UK. In a statement released on Friday, July 17th 2026, China’s Ministry of Commerce said the move “seriously damaged” Jingye’s legitimate rights and interests.

The ministry urged the UK to honour its commitments under the China-UK Investment Protection Agreement and pledged to assist Chinese companies in safeguarding their rights.

This development comes amid broader tensions, including the EU’s plan for 50 percent tariffs on British steel, which has also unsettled the industry.

Sources