In a report covering the financial year 2023‒24, the Trades Remedies Authority (TRA) has described a significant rise in new trade remedies cases, highlighting six new dumping or subsidy investigations — a record high since the UK’s departure from the EU customs union.
Once departure from the EU was complete, the TRA took over the work previously carried out by the European Commission with regard to monitoring and enforcing these investigations.
Oliver Griffiths, the TRA’s Chief Executive, claims that the report, which can be found HERE, showcases the TRA’s ability to adapt and thrive in the face of a rapidly changing global trade environment.
He said that he was committed to developing a highly-skilled and experienced team and now had a workforce of around 140 staff.
The trade remedy measures they are overseeing are now defending British producers across 3% of the total value of UK imports, representing around £22 billion of trade.
Alongside its internal capabilities, the TRA has placed a strong emphasis on external engagement, hosting the TRA Forum and expanding its digital presence to ensure businesses are aware of its services and understand the UK’s trade remedies regime.
“We will be rolling out a new version of our digital Trade Remedies Service this coming year, which will provide a superior customer experience and increase our productivity,” Mr Griffiths said. “We are taking a root and branch look at how to improve our investigations process, so that we can move faster and more efficiently while maintaining quality.”
With a rise in protectionist measures worldwide, increased use of subsidies and a renewed focus on economic security, he concluded, the TRA will be critical to defending the UK’s economic interests and keeping trade fair.
The TRA welcomes applications for trade remedies investigations from any business operating in the UK. Details of how to make an application can be found HERE.
