UK removes countervailing tariff on steel bar, rod imports from India

NEW DELHI: The UK Government has announced the removal of an up to 4 per cent countervailing tariff on stainless steel bars and rods imported from India due to a perceived low impact on local suppliers. The UK's Trade Remedies Authority (TRA) said recently that its recommendation that the countervailing measure on imports of stainless steel bars and rods from India be revoked has been agreed by the Government. The TRA concluded that although subsidised imports would continue from India if the countervailing measure were no longer applied, it is unlikely that the UK industry would be injured if the measure was no longer in place.

Trade association UK Steel said there is "minimal supply to the UK market of stainless bars and rods by UK producers and therefore very low risk of injury resulting from the removalofthemeasure".