According to the new regulation, which entered into force as of 1 October, the annual quota for Category 1A remained at 1 million tonnes, while the quota for Category 1B was set at 2.3 million tonnes with a 132% increase. Thus, the total import quota increased to 3.3 million tonnes.
This change is designed to allow companies to establish reliable supply chains to strengthen local processing activities. The products include various hot-rolled steel products such as 72081000, 72082500, 72082600, 72082700, 72083600, 72083700, 72083800, 72083900, 72084000, 72085210, 72085299, 72085310, 72085390, 72085400, 72111300, 72111400, 72111900, 72126000, 72251910, 72253010, 72253030, 72253090, 72254015, 72254090, 72261910, 72269120, 72269191 and 72269199. During the implementation of the new quota, an upper limit of 40 % has been set so that no country's exports exceed Category 1B. Furthermore, the Department of Commerce has requested the TRA to reconsider its proposal to suspend safeguard measures, taking into account the implications of this decision.
While this step stands out as a strategic move for the UK's steel industry, it is expected to have a significant impact on international markets. It is stated that this increase in the import of hot rolled products will increase the competitiveness of British producers, while the flexibility in the supply chain will be ensured.
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