[The following is from the website of the company handling the consultation for the Department for International Trade (DIT).]
As part of the UK’s new approach to US tariffs announced on 8th December 2020, the government announced it would be rolling over the rebalancing measures taken by the EU in response to the US Section 232 additional tariffs on UK steel, aluminium and derivatives. The government made clear at the time that the future of these rebalancing measures would be consulted upon, to ensure these tariffs are shaped to UK interests and tailored to the UK economy.
In addition to these rebalancing measures, from June 2021 under the WTO Agreement on Safeguards, the UK will be entitled to impose additional rebalancing measures in response to the US sec. 232 tariffs. The government has now launched a public consultation on the future of all UK rebalancing measures in response to the US sec. 232 tariffs. The consultation will close at 23:55 on 5th July 2021, and the government cannot guarantee that responses received after this date will be considered.
The consultation will give participants the opportunity to provide:
- specific feedback on the proposed list of potential rebalancing measures; and,
- information on interactions with the proposed rebalancing measures and the importance of this to their business and sector.
The government will carefully consider all responses when making a final decision on the proposed rebalancing measures. The government will ultimately apply rebalancing measures only to a subset of the products being consulted upon. In making a final decision the government will have regard, alongside the consultation responses, to balancing strategic trade objectives, such as the delivery of the UK’s trade ambitions, its WTO rights and obligations and FTA agenda.
This review could result in the maintenance, increase or decrease in tariffs, or removal of products from the proposed potential rebalancing measures list. Moreover, if the evidence suggests alternative courses of action, the government may need to consider other mechanisms as part of the review.
The government expects to receive input from stakeholders affected by the US additional tariffs on steel and aluminium products and derivatives and from stakeholders that could be affected by the proposed UK rebalancing measures in response. The information gathered should provide the government with information to assist in assessing the parameters of the rebalancing measures the UK will apply.
Throughout the consultation, respondents are encouraged to provide evidence to support their views, including the possible impacts (costs and benefits) of the proposed rebalancing measures on businesses, consumers and the economy.