UK To Change Trade Measures On HR Products From These Countries

Hot rolled flat and coil steel products make up almost one-third of the steel production globally. They are commonly used in the manufacturing, automotive, and construction industries. Due to their importance, trade measures on these products can have a significant impact on global trade.

What Are Trade Measures?

The TRA is responsible for reviewing and implementing trade measures for imports into the UK. These measures include antidumping measures, countervailing measures, and safeguard measures:

• Antidumping Measures- Aim to counteract imports that are sold at prices lower than their normal value in the exporter’s domestic market.
• Countervailing Measures- Aim to counteract subsidies provided by foreign governments to their domestic industries.
• Safeguard Measures- Aim to protect a domestic industry from a sudden surge of imports that may cause serious injury to that industry. 

TRA’s Decision On Trade Measures

• Extend Trade Measures- The TRA’s decision to extend trade measures on hot rolled flat and coil steel imports from China, Russia, Brazil, and Iran is based on its review of antidumping measures against these countries, as well as countervailing measures against China. The TRA believes that these measures are necessary to prevent dumping and to protect the UK’s domestic industry.
• Remove Trade Measures- The TRA proposes to remove these measures on imports from Ukraine. The TRA believes that the dumping of products from Ukraine is unlikely to recur due to a reduction in Ukraine’s production capacity and the limits on its ability to export caused by the war with Russia. The TRA also considered Ukraine’s need to rebuild its steel production facilities and its domestic demand for steel to rebuild the country’s infrastructure.

Insight

The TRA’s proposal means that tariffs on imports of hot rolled flat and coil steel products from Ukraine, which have been suspended since August 2022, will be revoked. Additionally, the TRA will evaluate whether the tariff suspension for Ukrainian imports should be continued for the next 12 months.

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