A Trade Bill was re-introduced into the UK Parliament on 19 March 2020 (the earlier one having lapsed with the expiry of the previous Parliamentary session on 6 November 2019) .
The object of the Bill is to support the implementation by the UK of new international free trade agreements into which the UK has entered or will enter with effect the end of the transition period (currently 31 December 2020) or later.
The new Bill also makes provision for the establishment of a UK Trade Remedies Authority to provide advice and support to the UK Government on dumping, subsidies and other international trade issues to ensure that the UK is able to combat unfair trading practices from overseas. This is a function currently undertaken by the European Commission within the EU context.
Finally, the new Bill also makes provision for the collection and disclosure by the UK Government of trade-related information and statistics.
The Act contains important practical and necessary steps to enable the UK to compete effectively on the world trade and economic stage following the expiry of the transition period.