International Trade Update

Revised anti-dumping duties have been put in place by UK Ministers today on wire-rod steel products originating in China. Commodity codes of goods subject to the revised duty arrangements are set out in the notice issued by the Department for International Trade (DIT) this morning.

The World Trade Organisation’s World Trade Report 2022 was published this week at COP-27 in Sharm El Sheikh, with a focus on trade in goods and services which mitigate the effects of climate change. The report found that if tariffs and non-tariff barriers were reduced, green exports could increase by 5% by the end of the decade and lower carbon emissions too.