Britain will continue to apply tariffs to imports that have been judged to be traded unfairly, in a continuation of current trading rules implemented by the European Union.
The rules currently effect those goods which have been ‘dumped’ on international markets in large quantities and are most commonly from China. Examples of effected goods include Chinese car tyres, ceramics, and mandarins. These penalties are an essential part of protecting the integrity of domestic markets, ensuring that there isn’t a huge influx of product which could wipe-out or damage UK businesses in the same trade.
There are a total of 43 remedies to trading which the government has confirmed will be upheld, regardless of the Brexit outcome. However, concerns remain around the UK’s ability to manage and regulate the volume of imports arriving into the region.
New trading measures mean that every applicable import will need to be assessed, tariffs implemented and safeguards assessed, all while the government investigates new dumping and subsidy cases. The government has assembled a new body – the UK Trade Remedies Authority – which will support these new trade measures, with the goal of protecting UK businesses.
In a statement, Liam Fox, the International Trade Secretary said:
“The decision on whether to maintain measures was based on whether those measures mattered to the UK. We are scrapping measures that don’t significantly benefit British businesses and this will see savings for people throughout the country,”
There will be a further review of tariffs to ensure their ongoing suitability.