New trade remedies system to protect UK businesses after Brexit

The UK’s new fully functioning trade remedies system has been established and will help to protect UK businesses from injury caused by unfair trading practices, such as dumping and subsidies, or injury caused by unforeseen surges in imports from 29 March if we leave the EU without a deal.

The Trade Remedies Investigations Directorate (TRID) has been established within the Department for International Trade. It will conduct the necessary preparatory work to ensure that the UK is ready to commence investigations as soon as the country leaves the EU.

This temporary directorate will administer trade remedies functions until the Trade Remedies Authority (TRA) is legally established as an independent body with the passing of the Trade Bill.

The key goal for the government is to secure Parliamentary support for the deal negotiated with the EU, under which UK businesses will continue to benefit from current protections during the Implementation Period.

Although, establishing the TRID ensures that British businesses will also be protected from unfair trading practices if the UK decides leave without a deal.

Trade remedies allow World Trade Organization (WTO) members to protect domestic industry from injury caused by unfair trading practices, such as dumped or subsidised imports, or from injury caused by unforeseen surges in imports.

Dr Liam Fox, Secretary of International Trade, said: “Our own independent trade remedies system will create a level playing field for British industries so they can compete with overseas producers that benefit from unfair trading practices.

“This underlines our commitment to ensuring the integrity of the global rules-based trading system as we take control of our independent trade policy for the first time in more than 40 years.

“UK businesses can contact TRID if they have evidence of unfair trading practices. Further information on who can submit cases and how they will be considered will be available shortly.”

Reanda UK is a subsidiary of leading independent accountancy firm Grunberg & Co Limited. Our aim is to help businesses and individuals to navigate the UK’s world-renowned business and tax infrastructure, and to support them with their international ambitions. To find out how we can help you, please contact us.

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