The UK TRA has proposed that countervailing measures on Stainless
Steel bars and rods from India be revoked.
In its initial findings, the UK’s Trade Remedies Authority (TRA)
has today (20 December 2022) proposed that a countervailing
measure on imports of Stainless Steel bars and rods from India be
revoked. Countervailing measures are put in place to offset
imports being sold at unfair prices due to government subsidies
in their country of origin.
The TRA, as set out in the Statements
of Essential Facts (SEF), found that revoking the measure
would be unlikely to cause injury to the UK industry.
The measure covers Stainless Steel bars and rods used across
various industries, including the automotive, aerospace and food
processing industries. They can either be used as a specific
component in a larger product, for example as a propeller shaft,
or they can be further worked into other stainless-steel
products, for example precision components.
Investigation findings
As part of its transition review, the TRA found that while there
have been subsidised imports of the goods while the measure has
been in place, and this will likely continue, injury to UK
industry would be unlikely to recur if the measure was no longer
applied.
This was determined after the TRA found evidence suggesting that
UK producers supply only limited amounts of these bars and rods
to the UK market, with the majority of their production being
exported. Therefore, the TRA found there to be a low risk of
injury resulting from the removal of the measure.
Following today’s publication, there will be a 33-day period in
which interested parties can comment on the report. Comments can
be made to the TRA via the Trade
Remedies Service website.
The TRA will then consider and produce a Final Recommendation,
which will be sent to the Secretary of State for International
Trade who will make the final decision on whether to uphold the
TRA’s recommendation.
Notes to editors:
-
The Trade Remedies Authority (TRA) initiated this transition review in
June 2022.
-
The period of investigation for the transition review was 1
April 2021 – 31 March 2022 while the injury period was 1
April 2018 – 31 March 2022.
-
The duties recommended for revocation range from 0% - 4%.
-
Countervailing measures are put in place to offset imports
being sold at unfair prices due to government subsidies in
their country of origin. They are one of three types of trade
remedies that are allowed under World Trade Organisation
(WTO) rules.
-
The Trade Remedies Authority (TRA) is the independent UK
body, established in June 2021, as the first non-departmental
public body of the Department for International Trade, that
investigates whether trade remedy measures are needed to
counter unfair import practices and unforeseen surges of
imports.
