Trade Update – April 1, 2024

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation(AD – Antidumping, CVD – Countervailing)	Particulars
United States of America (Department of Commerce)
India	Frozen Warmwater Shrimp	CVD	Preliminary affirmative determination of grant of countervailable subsidies.
China	Metal Lockers and Parts Thereof	AD/CVD	Final results of changed circumstances review recommending revocation of anti-dumping duty and countervailing duty orders.
India	Mattresses	AD	Amendment of preliminary affirmative determination of sales at less-than-fair-value.
India, China	Stainless Steel Flanges	AD/CVD	Initiation and publication of preliminary results recommending partial revocation of anti-dumping duty and countervailing duty orders.
China	Non-Malleable Cast Iron Pipe Fittings	AD	Amendment of final scope ruling to modify the scope of the anti-dumping duty order.
India	Carbazole Violet Pigment 23	AD	Final results of new shipper review determining no sales at less-than-fair-value.
China	Quartz Surface Products	AD/CVD	Initiation of administrative reviews of anti-dumping duty and countervailing duty orders.
United Kingdom (Trade Remedies Authority)
China	Bicycle Parts	AD	Final results of review of anti-circumvention duties recommending exclusion of certain goods.
European Union (European Commission)
China	Mobile Access Equipment	CVD	Initiation of countervailing duty investigation.
India (Directorate General of Trade Remedies)
China, Japan	Insoluble Sulphur	AD	Initiation of anti-dumping investigation.
Thailand	Aluminium foil below 80 microns	AD	Initiation of mid-term review.
China	Saccharin	CVD	Initiation of sunset review.
China	Saccharin	AD	Initiation of anti-dumping investigation.
China, Indonesia, Japan, Korea, Taiwan, Thailand, USA	PVC Suspension Resins	AD	Initiation of anti-dumping investigation.
China, Russia, Taiwan	Acetonitrile	AD	Initiation of anti-dumping investigation.

WTO, FTAs

• China initiates dispute regarding US tax credits for electric vehicles, renewable energy.
• WTO panel issues report regarding Australian duties on certain Chinese goods.
• WTO members agree on timetable for market access thematic sessions, discuss trade concerns.
• WTO and the Enhanced Integrated Framework (EIF) host discussion on trade policy and women’s economic empowerment.
• WTO members examine ways to support smooth transition after graduation from LDC status.

TRADE POLICY

EU

• France’s Senate rejects bill to ratify EU-Canada trade deal because of farmers’ concerns.
• Bulgaria and Romania join the Schengen area.

UK

• UK-Canada trade barriers to increase amid failure to reach deal.
• The UK Justice Committee calls for official representation for the Crown Dependencies in UK’s international trade negotiations.
• Eastern and Southern African Trade and Development Bank (TDB) secures USD 100mn facility UK development finance institution.
• UK suspends tariffs on all raw almonds beginning April 11, 2024.

USA

• Vietnam invests the most in the USA in first months of 2024.
• USTR releases 2024 National Trade Estimate Report on Foreign Trade Barriers.
• US continues monitoring India’s restrictions on ICT imports, raises concerns on digital trade barriers.

India

• Alcoholic beverages, jam among 12 items to get export push by the Indian government.
• Discrepancy in India-China trade data is only getting worse.
• India open to joining trade blocs with China if its economy is WTO compliant, says trade minister Piyush Goyal.

INDIAN CUSTOMS & ALLIED AGENCIES

• Amendment to list of banks authorized to import gold/silver under Appendix 4B of Handbook of Procedures, 2023.
• Notification of the procedure for obtaining General Authorization for export of certain Telecommunication-related items under category 8A5 Part 1 of the SCOMET list.
• Notification of the procedure for obtaining General Authorization for export of certain Information Security items under SCOMET category 8A5 Part 2 of the SCOMET list.
• Notification of extension of enforcement date for the Agro textiles quality control order (QCO).
• Notification of amendments and extension of enforcement date for the Aluminium and Aluminium alloys products QCO.

NATIONAL SECURITY, SANCTIONS & EXPORT CONTROLS

• Russia struggles to collect oil payments as China, UAE, Turkey raises bank scrutiny.
• Recent US sanctions may have muted impact on India’s Russian oil buys, could deepen discounts.
• The US BIS updates guidance and best practices for freight forwarders and exporters to ensure compliance with U.S. export controls.
• The US BIS warns counterparties sending drone, missile components to Russia.
• The US is unlikely to reimpose oil sanctions on Venezuela.
• The US Treasury designates Russian companies supporting sanctions evasion through virtual asset services and technology procurement.
• A US court has approved the forfeiture of $17 million from Al Naser Airlines due to violations of Iran sanctions and export controls.
• The US has notified revised rules regarding its export curbs on AI chips and tools to China.
• China opposes revised US chip export restrictions.

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.