Trade Update – May 9, 2022

Product		Subject countries	Investigation	Particulars
DGTR (Directorate General of Trade Remedies)
Opal Glassware		China & UAE	Anti-dumping Duty (AD) Sunset Review (SSR)	DGTR issues positive final findings
Dispersion Unshifted Single-mode Optical Fibre (SMOF)		China, Indonesia & South Korea	AD	Initiation of AD investigation
Saturated Fatty Alcohols		Indonesia, Malaysia, Thailand & Saudi Arabia	AD New Shipper Review (NSR)	Amendment to Final findings in AD NSR
USA (Department of Commerce/International Tarde Commission)
Stainless Steel Flanges	India		CVD Administrative Review       AD Administrative Review	Final determination of existence of countervailable subsidies   Final determination of sales below normal value
Carbon and Alloy Steel Threaded Rod	India		AD Administrative Review	Preliminary negative determination of no sales below normal value
Polyester Staple Fiber	Republic of Korea & Taiwan		AD SSR	Final determination of likelihood of continuation or recurrence of dumping
Large Residential Washers	China		AD SSR	Final determination of likelihood of continuation or recurrence of dumping
Circular Welded Non-Alloy Steel Pipe	Republic of Korea		AD Administrative Review	Final determination of sales at less than normal value
Iron Construction Castings	Brazil, Canada & China		AD & Countervailing Duty (CVD) SSR	Determined by USITC to lead to continuation or recurrence of material injury
Hot-Rolled Steel Flat Products	Republic of Korea		CVD Administrative Review	Final determination of existence of countervailable subsidies

WTO, FTAs

• The European Union, India, South Africa and the United States’ outcome document on Intellectual property response to COVID-19 response made public
• India raises concerns at the WTO over a host of trade barriers built in by Indonesia, including export restrictions on palm oil and import curbs on bovine meat and automotive (auto) parts, holding that such measures have adversely impacted India

India

• India expects to seal FTA with European Union by next year: Piyush Goyal
• India has kept out as many as 1,157 products, including TVs, picture tubes, soaps, toys, footwear, instant coffee, sharbat, and petroleum waxes, from the ambit of its free trade agreement with UAE

UK

• Ukraine, UK sign preferential trade deal; abolish import duty, tariff quotas

TRADE POLICY

USA

• Secretary of Commerce Gina M. Raimondo and Minister of Economy, Trade and Industry of Japan Hagiuda Koichi convened the first Cabinet-level meeting of the Japan-United States Commercial and Industrial Partnership (JUCIP)

UK

• UK and Japan set to rapidly accelerate defence and security ties with landmark agreement
• UK Prime Minister, Boris Johnson, announces new Trade Envoy to Japan

CUSTOMS

• Allocation of additional quantity of 2051 MT for export of raw sugar to USA under Tariff Rate Quota (TRQ) for the US Fiscal Year 2022
• Amendment in Para 2.107 of Handbook of Procedure 2015 2020 to introduce necessary guidelines for TRQs under UAE Comprehensive Economic Partnership Agreement
• Extension of relaxation of the Provisions under Notification 20/2015-2020 dated 24.08.2021

SANCTIONS AND EXPORT CONTROL

USA

• US reissues Russia sanctions regulations whereby properties belonging to certain people were blocked
• President Biden proposes a legislative package that would “hold Russian oligarchs and elites accountable” for Russia’s aggression towards Ukraine. 

EU

• EU removes Russia as a destination for general export authorizations which permitted re-export of items after repair or replacement in the EU; export of items for fairs or exhibitions and exports of telecommunications equipment.
• EU to ban the import of Russian oil in 6th sanctions package

UK

• UK announced a ban on service exports, including management consulting, accounting and public relations, to Russia, as well as the designations (asset freezes and travel bans) of 31 people and 32 entities under the UK’s Russia sanctions regime.

Disclaimer: The information contained in this document is intended for informational purposes only and does not constitute legal opinion or advice. This document is not intended to address the circumstances of any individual or corporate body. Readers should not act on the information provided herein without appropriate professional advice after a thorough examination of the facts and circumstances of a situation. There can be no assurance that the judicial/quasi-judicial authorities may not take a position contrary to the views mentioned herein.