UK Proposes Steel Import Safeguards Extension for Few Products
UK Steel SafeguardsFT

UK Proposes Steel Import Safeguards Extension for Few Products

The UK's Department of International Trade has published an intended preliminary decision to extend UK steel import safeguards and tariff rate

The UK's Department of International Trade has published an intended preliminary decision to extend UK steel import safeguards and tariff rate quotas for three years from July 1 on certain product categories. The Trade Remedies Investigations Directorate of the Department for International Trade has published its Statement of Intended Final Determination which sets out its findings on the UK’s steel safeguard measures. TRID reviewed 19 categories of steel imports that are covered by the existing trade remedy measures, covering 253 different products in total. TRID’s report recommends that the existing trade remedy measures on imports are extended on 10 categories and revoked on nine categories. For the 10 product categories on which TRID has recommended that the measures should be extended, it has determined that there was an import surge, that future injury to UK producers was likely to be caused if the measures were removed, and that extension meets the Economic Interest Test. TRID has determined that Tariff Rate Quotas remain the most appropriate form of measure to be applied for these categories, with imports outside the Quotas facing a tariff of 25%.

For 9 product codes, TRID found that there is no production in the UK, so the measures are not needed. For six of the nine revoked categories, it found that there was no increase in imports to the UK between 2013 and 2017, meaning that the measures cannot be extended. For the other three revoked categories, it was found that the import increase was not significant enough, or was not likely to cause injury, or that extending a measure did not meet the Economic Interest Test.

After leaving the European Union, the UK "transitioned" the existing EU tariff rate quotas, introduced in 2018 under its safeguard scheme, to the UK. In October 2020, TRID started a transition review of the quotas for the UK market, which has now been completed. This considered whether certain products had been imported into the UK in increased quantities during the investigation period, whether imports were likely to reoccur, and whether there would be serious injury to UK producers if those goods were no longer subject to tariff rate quotas.

No stories found.
SteelGuru Business News
www.steelguru.com