The Trade Remedies Authority has today (Wednesday 19 July) published its Annual Report and Accounts for 2021-23.
The report summarises what the TRA's workforce of around 140 has achieved since it became an independent arms-length body in 2021. Of the trade remedy measures transitioned from the EU, reviews of 27 had been initiated by March 2023, with final recommendations for 15 measures having been made to the Secretary of State for Business and Trade.
The report accounts for £26 million of expenditure the TRA has used to investigate where unfair international trade practices may be damaging the UK's economic interests. Alongside its programme of transition reviews, which the TRA is on track to complete by March 2025, it has launched four new cases, relating to aluminium extrusions, optical fibre and ironing boards.
TRA Chief Executive Oliver Griffiths said:
Since 2021 we have been building a world-leading trade remedies body and I'm proud of the achievements made so far. There's more to do and I'm excited by the challenges the next reporting period will likely bring, including new cases, a wider range of reviews, and continued growth in our staff's capability, expertise and engagement with the pioneering work of the TRA.
In its most recent stakeholder survey, 82% of respondents agreed that the TRA undertakes fair, impartial, rigorous and efficient investigations, while internally 90% of its staff felt that the TRA is committed to building a diverse and inclusive workplace.
While the annual report looks largely at the progress made during its period of establishment, the TRA's Corporate and Business plan, published in May this year, sets out how it will build on these foundations over the next three years to March 2026, together with a robust set of key performance indicators against which it can be measured.
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As an independent body operating at arm's length from the Department for Business & Trade, the TRA is guided in its work by its principles of proportionality, impartiality, transparency and efficiency.
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The TRA welcomes applications for trade remedies investigations from any business operating in the UK. Read our online guidance to find out more about how to apply and what information to provide.
