Department for International Trade

Last updated
Department for International Trade
Department for International Trade Logo.png
Department overview
Formed14 July 2016
Preceding department
JurisdictionUnited Kingdom
HeadquartersOld Admiralty Building, Admiralty Place, Whitehall, LONDON, SW1A 2DY
Minister responsible
Department executives
Child department
Website Official website

The Department for International Trade (DIT [1] ) is a United Kingdom government department responsible for striking and extending trade agreements between the United Kingdom and foreign countries, as well as for encouraging foreign investment and export trade. [2] The department was created by Prime Minister Theresa May, shortly after she took office on 13 July 2016, following the United Kingdom's vote to leave the European Union. [3]

DIT's purpose is to develop, coordinate and deliver a new trade policy for the United Kingdom, including preparing for and then negotiating free trade agreements and market access deals with non-EU countries. The new department is a specialised body with significant new trade negotiating capacity.

It took on the responsibilities of UK Trade & Investment, which was previously operated by both the Foreign Office and the Department for Business, Innovation and Skills, it also took on the latter's other relevant trade functions; as well as responsibility for UK Export Finance. [4] It is overseen by the Secretary of State for International Trade, currently Liz Truss. [2]

As of February 2017 the department employed about 200 trade negotiators. [5]

After Britain left the EU, the Trade Remedies Investigations Directorate (TRID) of the Department for International Trade was created to investigate whether new trade remedies are needed to prevent injury to UK industries caused by unfair trading practices and unforeseen surges in imports. These remedies usually take the form of additional duties on those imports. [6]

Following Royal Assent of the Trade Act 2021 [7] TRID became an independent arms-length body, the Trade Remedies Authority (TRA), on 1 June 2021. [8]

Department for International Trade No. 3 Whitehall Place.jpg
Department for International Trade

Ministers

The Ministers in the Department for International Trade are as follows: [9]

MinisterRankPortfolio
The Rt Hon. Liz Truss MP Secretary of State
President of the Board of Trade
leading the UK's role in championing free trade through securing new free trade agreements, developing a new UK global tariff policy, and reforming the World Trade Organization (WTO); upgrading the UK's export performance by increasing the number of exporters and the value of exports; increasing the amount and value of foreign direct investment (FDI) into the UK; overall responsibility for the business of the department, including the running of the department and its finances.
The Rt Hon. Greg Hands MP Minister of State for Trade Policy trade relating to the devolved administrations; trade for development; Official Development Assistance (ODA); He also supports the Secretary of State with:-

securing new free trade agreements with the US, Australia, New Zealand and Japan: engagement with, the World Trade Organization (WTO): the UK's tariff policy.

The Rt Hon. The Lord Grimstone of Boscobel Minister of State for Investment
(Jointly with BE&IS)
covering departmental business in the House of Lords; developing a new investment strategy; promoting investment across all sectors; business investor relations; leading on the strategic relationship management programme cross-Whitehall, including account management of large UK investors; global marketing to attract investment; increasing foreign direct investment (FDI) and portfolio investment into the UK; promoting and supporting outward direct investment (ODI).
Graham Stuart MP Parliamentary Under-Secretary of State for Exports export policy and promotion, including the export strategy; UK Export Finance (UKEF); UK Defence and Security Exports; climate change and COP26; GREAT campaign; trade missions; global events; investment policy in the House of Commons.
Ranil Jayawardena MP Parliamentary Under-Secretary of State International Trade future free trade agreements; trade agreement continuity; export controls; tackling barriers to market access; He also supports the Secretary of State with:- trade remedies: trade dialogues: joint economic and trade committees (JETCOs).

See also

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References

  1. "Department for International Trade". GOV.UK. GOV.UK. 28 July 2016. Retrieved 28 July 2016.
  2. 1 2 "About us - Department for International Trade". GOV.UK. Retrieved July 14, 2016.
  3. CSW and Politics Home staff (July 13, 2016). "Theresa May signals Whitehall rejig with two new Cabinet posts". Civil Service World. Retrieved July 14, 2016.
  4. "Machinery of Government Changes:Written statement - HCWS94". UK Parliament. July 18, 2016. Retrieved July 22, 2016.
  5. Trading places / Negotiating post-Brexit deals. Economist, February 4th-10th 2017, page 25
  6. "About us". GOV.UK. Retrieved 2021-04-30.
  7. "Historic Trade Act becomes law". GOV.UK. Retrieved 2021-04-30.
  8. "About us". GOV.UK. Retrieved 2021-06-08.
  9. "Our ministers". GOV.UK. Prime Minister's Office, 10 Downing Street. Retrieved 1 August 2019.