LONDON, Dec 11 (Reuters) - Britain will strengthen its trade defences by handing its business secretary the power to direct rapid investigations into unfair practices under new rules designed to deal
UK to Strengthen Trade Defences Against Global Dumping
LONDON, Dec 11 (Reuters) - Britain will strengthen its trade defences by handing its business secretary the power to direct rapid investigations into unfair practices under new rules designed to deal with rising global protectionism, according to draft guidance seen by Reuters.
Britain launched the Trade Remedies Authority after it left the European Union, but the independent body has been criticised for being too slow to meet the challenge of a global trade war that risks cheap goods being dumped by the likes of China.
The government will update legislation to give the Business and Trade Secretary the power to direct the TRA to initiate investigations, providing they are justified by evidence and World Trade Organization requirements are met, the document said.
The government added that in a more volatile world it wanted to ensure elected politicians took major decisions on trade policy.
The new guidance also instructs the TRA to make it easier for a wider range of UK producers to contribute to investigations, and says the TRA should become more assertive and agile in tackling unfair trade - by launching investigations and completing them in a timely manner.
"Our trade remedies system, created before globalisation came under today's protectionist threat, now needs to be sharper to meet the demands of a new geopolitical reality," the draft guidance said.
U.S. President Donald Trump launched a broad tariff programme this year that has led to a surge in Chinese exports to other places such as Europe, Australia and Southeast Asia.
The EU has unveiled plans to boost Europe's resilience to threats such as dumped imports while France has raised the prospect of tariffs against Beijing.
Britain's trade secretary, Peter Kyle, said the changes to how the TRA works would bring Britain into line with international peers and "give our producers and manufacturers... the backing they need to grow and compete."
TRA's Co-Chief Executives Jessica Blakely and Carmen Suarez said they welcomed the initiatives which would help them "defend the UK economic interests against unfair international trade practices."
(Reporting by Alistair Smout; Editing by Nia Williams)
