Part 5 Supplementary
Taxation (Cross-border Trade) Act 2018 (2018 c 22) | Legislation

Part 5 Supplementary

The economic interest test

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.

(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

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