Chancellor Acts to Protect Fair Trade for UK Businesses

In a government press release from HM Treasury, Rachel Reeves MP, Jonathan Reynolds MP, published: 23 April 2025, the Chancellor unveiled plans to maintain level playing field for British businesses.

Chancellor Rachel Reeves announced new measures to support British businesses against unfair international trade practices like the dumping of cheap goods. These actions are part of the government’s Plan for Change to promote economic growth and ensure a level playing field.

Key steps include enhanced trade monitoring, stronger support for businesses to report unfair practices, and faster responses to import surges. The Trade Remedies Authority (TRA) has been directed to act immediately on these issues.

A review is also underway into the customs rules for Low Value Imports (under £135), which large UK retailers argue allow foreign sellers to undercut domestic prices unfairly.

Speaking at the IMF Spring Meetings in Washington, Reeves emphasised that while open trade is vital, fairness must be restored in global commerce to protect incomes and jobs.

The announcement follows recent government efforts to back British industry, including tariff suspensions on 89 foreign goods and support for the shift to zero-emission vehicles. Business Secretary Jonathan Reynolds reiterated the UK’s commitment to act swiftly to shield domestic firms from harmful import practices.

Image via pexels.com