Retailer trade association Bira “strongly” welcomed the chancellor's announcement of plans to create a level playing field for British businesses against unfair international trade practices.
The British Independent Retailers Association said Rachel Reeves’s statement represents a “significant step forward” in addressing the concerns it has consistently raised on behalf of its members.
The government announced immediate action by the Trade Remedies Authority (TRA), the body responsible for defending the UK, against certain unfair international trade practices.
The chancellor also announced her intention to review the customs treatment of Low Value Imports, which allows goods valued at £135 or less to be imported without paying customs duty.
Some of Britain’s best-known retailers such as Next and Sainsburys have called to amend the treatment, arguing that it disadvantages them by allowing international companies to undercut them.
Speaking in Washington D.C. at the annual IMF Springs meetings, Reeves said free and open trade is good for the UK, but fairness needs to be injected into the global economic system.
“This government is meeting the moment to protect fair and open trade,” Reeves said.
