As part of its post-Brexit trade policy, the UK has established its own independent trade remedies regime. Through its newly-formed Trade Remedies Authority (“TRA”), the UK can now investigate claims of unfair import practices from UK businesses and determine whether the UK Government should introduce trade remedy measures – including anti-dumping duties, countervailing duties and safeguard measures – onto imports into the UK.
Following its launch on 1 June 2021, the TRA has begun conducting a number of investigations to determine whether the UK should establish or retain trade remedy measures for imports into key UK sectors, including aluminium, biodiesel, fisheries and steel. For businesses, the new regime presents a key opportunity to advocate new approaches to UK tariffs at a time when the UK – following its departure from the EU – is at a critical juncture in determining its trading relationship with the rest of the world.
In this briefing, we have summarised the key considerations for businesses in respect of the legal framework and process for the UK’s new regime, including the following takeaways:
- This regime is specific to duties imposed under WTO trade remedies principles such to offset injury to UK business arising from prices of imports being charged through abnormal market practices and conditions; it is not simply a means of imposing duties under standard customs rules.
- Pursuant to the new regime, the UK has already begun assessing new trade remedies duties to impose and withdraw, including with respect to a number of existing duties previously imposed by the EU.
- This presents both an opportunity and threat for businesses seeking to either protect domestic market share from foreign imports or, alternatively, capitalise on exports to the UK as part of the potential liberalisation of the market post-Brexit.
Click here to access the full alert.
For more information and the latest updates on trade remedies, please visit our Import and Trade Remedies Blog.