S&P Global Platts reports in a recent article on how UK steel import protection measures will continue post-Brexit.
UK steel import safeguard system to remain partially in place
The U.K. steel import safeguard system – published Sept. 30 for application from Jan. 1, 2021 – will continue to apply to some trade between the EU and the U.K. and between Turkey and the U.K. after new trade agreements were agreed with those partners in recent days, HMRC clarified Dec. 30.
What are safeguard measures?
Safeguards are non-preferential measures that include anti-dumping and countervailing duties. Preferential agreements – such as those the U.K. has negotiated with both the EU and Turkey – do not affect the application of steel safeguard measures, an HMRC official told S&P Global Platts.
“Preferences are optional, but you cannot opt out of non-preferential measures (which includes safeguard, anti-dumping and countervailing duties),” the official said. “Any exemptions from steel safeguard measures granted to certain countries are based on low export volumes of the product in question.
“The U.K. steel safeguard measures will remain in place at least until the end of the current safeguard review in June 2021.”
Source: spglobal.com
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