In a significant move to protect the British steel industry, the Secretary of State for Business and Trade has endorsed the Trade Remedies Authority's recommendation to maintain substantial anti-dumping duties on steel ropes and cables imported from China. The decision, announced on November 14, 2024, extends the protective measure until April 21, 2028, safeguarding a crucial sector of the UK manufacturing industry.
The TRA's comprehensive review, conducted after Brexit to assess measures inherited from the European Union, revealed compelling evidence that removing these protective tariffs would severely impact domestic producers. The investigation, covering the period from January to December 2022, demonstrated that the UK steel ropes and cables industry contributes over £36 million to the national economy, serving vital sectors including oil and gas, mining, construction, and maritime operations.
The investigation highlighted that without the current 60.4% duty, Chinese imports would likely become 37.7% cheaper, creating an insurmountable competitive disadvantage for UK manufacturers. This price differential would potentially force domestic producers to cease operations, leading to significant job losses and industrial capacity reduction in the British steel sector.
The measure's scope extends beyond direct Chinese imports, encompassing products consigned through Morocco and Korea, addressing potential circumvention routes. This comprehensive approach ensures the effectiveness of the trade remedy, preventing the exploitation of alternative supply chains to evade the duties intended to maintain fair market conditions.
The UK steel ropes and cables industry serves as a critical supplier to numerous downstream businesses, forming an essential part of the industrial supply chain. The sector's products are integral to various applications, from offshore drilling operations to construction projects, highlighting its strategic importance to the broader UK economy.
