UK Steel has applied for review of overseas tariff quotas

UK Steel, a British industry association, has applied for a review of safeguard tariff quotas to the UK Trade Remedies Authority (TRA), citing changing market circumstances. This is stated in the message of the TRA.

As noted, the agency has decided to examine this new evidence as part of its ongoing review of developing countries that are not subject to safeguard measures.

UK Steel noted several factors that justify the review of quotas and may be proposed in the event of a change in circumstances.

UK Steel’s submission noted that quotas for certain categories of steel are dominated and exhausted by certain countries. TRA has also received other data indicating that there are other categories whose remaining quotas were exhausted at the beginning of the quarter. Therefore, the agency will consider whether to change tariff quotas for certain types of steel products.

The industry association’s statement also noted that global demand for steel has been declining both in the UK and globally, particularly in China. Thus, demand in the UK decreased by 16% between 2018 and 2023.

At the same time, UK Steel notes that British quotas have been liberalized year after year, first by 5% after their introduction, and then by 3% annually, Kallanish writes. Currently, the country has quotas that are 22% higher than the level of imports in 2015-2017, and they are due to be liberalized by another 3% in July 2025.

After TRA completes the review of tariff quotas, the agency will publish a recommendation and give stakeholders an opportunity to comment before submitting it for consideration.

In March, the TRA initiated a review of the exemptions from the steel import tariff quota for developing countries. The investigation will cover the period from January 1 to December 31, 2024. As noted, the agency analyzed trade data indicating that there may have been a change in imports from these countries since the application of safeguard measures.