The trade association for the UK steel industry has submitted evidence to the Trade Remedies Authority (TRA) which indicates that there have been changes in circumstance that may warrant a change to the current tariff rate quotas imposed.
As a result of this intervention by UK Steel, the TRA has decided to expand the scope of its review of the current steel safeguard measure.
As expanded matters are being considered in the review, interested parties now have until 9 April 2025 to register their interest or provide updated submissions via the TRA’s public file (available here).
UK Steel’s submission noted that the quotas of certain categories of steel (categories 4, 7 and 13) are being dominated and exhausted by individual countries. The TRA has also acquired other data which indicates that there are other categories whose residual quotas have been exhausted early in the quarter (categories 5, 16, 17 and 21).
Noting that there has been a decline in the demand for steel, both in the UK and globally, including China where demand has fallen by 3%, UK Steel argues that the current safeguard measure does not offer adequate protection to the UK industry.
Once the TRA has concluded its review of the tariff rate quota, it will publish an intended recommendation and allow interested parties to comment before submitting a final recommendation to the Business and Trade Secretary.
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