The UK has announced the establishment of its new trade remedies system with the objective of protecting UK domestic businesses and industry against injury caused by unfair trading practices and unforeseen surges in imports. The measure is a means to protect the UK businesses in the event of a no-deal Brexit.
The Trade Remedies Investigations Directorate (TRID) has been established as part of the Department for International Trade, and commenced operations from March 6, 2019. The TRID will conduct the necessary preparatory works to ensure that the UK is ready to commence its trade remedy investigations as soon as Brexit occurs.
TRID has been established as a temporary institution until the Trade Remedies Authority (“TRA”) is legally established as an independent body. The establishment of the TRA is contingent upon the enacting of the Trade Bill in the UK Parliament. The UK has announced that its system will be fully compliant with the relevant WTO agreements and will put in place robust protections where they are needed.