Struggling steel industry sparks crisis in UK

LONDON (AP) — The British government scrambled Thursday to save the country's struggling steel industry after Tata Steel announced plans to sell its U.K. plants, which employ almost 20,000 people.

The steel industry in Britain, like many developed economies, has been hit hard by cheap Chinese imports, which have depressed prices, and manufacturers have asked the government and European Union to impose anti-dumping duties.

Tuesday's decision by the Indian company to shed its British steelworks appeared to catch U.K. authorities by surprise.

The opposition Labour Party has urged the government to nationalize the steel industry — as it did struggling banks, which received billions in public money to keep them afloat during the 2008 financial crisis.