Anti-dumping duties exist as a way for a country to take action when goods are sold below their standard value, this being defined as ‘the price for like goods sold in the exporter’s home market’. Such measures are one of three types of trade remedies that are permitted under World Trade Organisation rules.
The Trade Remedies Authority (TRA) in the UK is currently carrying out several transition reviews. As the UK body charged with investigating if trade remedy measures are required to counter unforeseen import surges and unfair import practices, the TRA is reviewing measures that were carried into UK law after Brexit. The TRA is reviewing each measure to discover whether it is still suitable and relevant to the UK’s needs.
The TRA recently published interim findings in its review of anti-dumping measures applied to heavy plate steel imported from China. In addition, the TRA reported that it had launched a new transition review into anti-dumping measures on Chinese corrosion-resistant steels imported into the UK.
Heavy Plate Steel Imports
Each year, the UK imports about 100 tonnes of heavy plate steel from China. In its Statement of Essential Facts, the TRA published its interim findings on the current anti-dumping measures imposed on such imports. The provisional conclusion was that the anti-dumping duties should be retained until March 1st 2027.
It is believed that if the duties were removed, injury to UK producers would be likely to recur while maintaining the measures would be of benefit to UK producers and suppliers. The TRA is set to submit a final recommendation to the UK’s Secretary of State for International Trade, who will have the power to make a final decision on the matter.
Corrosion-Resistant Steel Imports
The TRA reported that it had initiated a new review into anti-dumping measures applied to corrosion-resistant steels imported from China into the UK. These measures were inherited from the EU system and the review will establish whether or not they are suitable for the UK’s current needs and will continue to protect industry in the UK.
Corrosion-resistant steel, including coated steel, is seen by the TRA as a ‘prospective growth area for the UK steel industry’. It is estimated that the industry represents revenue opportunities of almost £1bn a year by 2030. The opinions of businesses who may be affected by the findings are being sought and contributions can be made to the TRA until 15th February 2023.
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