UK steel industry body UK Steel and steelmaker British Steel have both welcomed a recent government announcement that the UK will formally adopt many of the existing EU trade protection measures for the steel sector once the country leaves the trading bloc.
The UK government's secretary of state for international trade, Liam Fox, announced in the House of Commons on February 25 that the UK will adopt many EU trade remedies when the UK has left the EU ("Brexit"), which is scheduled to happen on March 29.In October 2017, Fox's Department for International Trade gathered evidence from the steel industry to establish which goods covered by EU anti-dumping and anti-subsidy duties were produced in the UK, and whether UK production met the criteria for these trade measures to be carried over into UK law.Fox said that the UK intends to reimpose 43 of 109 existing EU measures where they are directly applicable to the UK and have met the criteria.Of that 43, 15 are related to steel, and applying them will ensure continued protection from known unfair trading practices, Fox said. Another 15 measures will be eliminated, because they do not meet...