2 Jun 2023 16:00

UK extends suspension of duties on hot rolled flat, coil steel imports from Ukraine

MOSCOW. June 2 (Interfax) - The government of the United Kingdom has accepted a recommendation of the Trade Remedy Authority (TRA) to extend its suspension of trade remedy measures on hot rolled flat and coil steel imports from Ukraine.

Trade remedy measures on imports of hot rolled flat and coil steel from Ukraine have been suspended since August 2022, Ukrainian media outlets said, citing the website of the British government. The suspension was due to end on May 30, 2023, but it was extended for 12 more months from May 30, 2023.

This product covers hot-rolled flat products of iron, non-alloy and other alloy steel, the website said. It is commonly used as a raw material for other types of steel and makes up almost one third of worldwide steel production.

According to the statement on the website, TRA is the British body that investigates whether trade remedy measures are needed to counter unfair import practices and unforeseen surges of imports. Trade remedies are usually applied at the border as a duty on imports.