However, recent developments in the steel industry, particularly Tata Steel's planned major changes to its production facilities in Port Talbot, have prompted a review of these measures. Tata Steel plans to replace its existing blast furnaces and coke ovens with electric arc furnaces powered by green energy. As these changes will lead to a reduction in HRC production, new regulations may be needed to meet the UK's growing demand for imports.
The UK Trade Remedies Authority (TRA) has launched two separate reviews to reassess TRQ levels and review possible provisional suspension decisions in line with this new situation. These reviews are intended to balance the balance between UK producers and importers. The TRA emphasized that it has taken care to maintain a transparent dialogue and gather evidence from all interested parties in this process.
The UK protects critical steel products, particularly in the industrial and construction sectors. These products include rolled flat steel, molds and plates, rolled long steel products and stainless steel. The tariff quota (TRQ) levels set for products in these categories envisage the imposition of an additional customs duty of 25% on the quantity of imports. These types of steel, which are widely used especially in the construction and automotive sectors, are subject to such strict regulations in order to support local production.
These processes may also cause fluctuations in international trade. In particular, changes in import quotas or new duties may affect import and export volumes and prices. This can reshape the overall flow of trade and economic balances. TRA is closely monitoring this situation and assessing the impact of the measures on the UK economy.
Product HS Codes: The following products are covered by the UK's safeguard measures on steel imports:
Non-alloy and other alloy hot rolled
Sheets and strips 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, 7226919
Comments
No comment yet.