The UK government has announced that it will make new legislation, changing its trade remedies system to improve the way of protecting businesses in various sectors including the steel industry from unfair competition and unforeseen surges in imports.
According to the proposal, the Trade Remedies Authority’s analytical role will be maintained, while ministers will be given greater power regarding trade investigations.
“The reform package announced is hugely significant for UK industry, making the UK’s trade remedies regime more balanced, flexible. It will ensure that the UK has the right toolkit as an independent trading nation to ensure its industry can compete on a level playing field,” Gareth Stace, director general of UK Steel, said.
