The economic interest testU.K.
23(1)This paragraph applies if the TRA or the Secretary of State is considering, for the purposes of this Schedule, whether the TRA or the Secretary of State is satisfied that the application of a safeguarding remedy meets or does not meet the economic interest test.U.K.
(2)The economic interest test is met in relation to the application of a safeguarding remedy if the application of the remedy is in the economic interest of the United Kingdom.
(3)When considering whether or not the application of a safeguarding remedy is in the economic interest of the United Kingdom, the TRA or the Secretary of State must—
(a)take account of the following so far as relevant—
(i)the serious injury caused by the importation of the goods in increased quantities to UK producers of those goods and the benefits to those UK producers in removing that injury,
(ii)the economic significance of affected industries and consumers in the United Kingdom,
(iii)the likely impact on affected industries and consumers in the United Kingdom,
(iv)the likely impact on particular geographic areas, or particular groups, in the United Kingdom, and
(v)the likely consequences for the competitive environment, and for the structure of markets for goods, in the United Kingdom, and
(b)take account of such other matters as the TRA or, as the case may be, the Secretary of State considers relevant.
(4)In this paragraph—
(a)references to the application of a safeguarding remedy are to—
(i)applying a provisional safeguarding amount or a definitive safeguarding amount to goods, or
(ii)making goods subject to a provisional tariff rate quota or a tariff rate quota;
(b)“affected industries and consumers” means industries and consumers that would be affected if the safeguarding remedy were, or were not, to be applied;
(c)“industries” includes—
(i)the UK producers referred to in sub-paragraph (3)(a)(i) and other producers of goods,
(ii)suppliers of goods or services, and
(iii)importers, distributors and retailers of goods;
(d)“consumers” includes users of goods or services.
Commencement Information
I1Sch. 5 para. 23 in force at 4.3.2019 at 11:59 a.m. by S.I. 2019/429, reg. 2 (with regs. 4-9)