Trade Update – April 24, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
India (Directorate General of Trade Remedies)
China PR	Sulphur Black	AD	Termination of anti-dumping investigation concerning imports of “Sulphur Black” originating in or exported from China PR.
USA (Department of Commerce/International Trade Commission/International Trade Administration)
People’s Republic of China	Floor-Standing, Metal-Top Ironing Tables	AD	Final results of a changed circumstances review and allowing continuation of the order on antidumping duties.
People’s Republic of China	Refillable Stainless Steel Kegs	CVD	Final results of countervailing duty administrative review determining grant of countervailable subsidies.
People’s Republic of China	Forged Steel Fittings	AD/CVD	Final results of antidumping duty administrative review determining continued dumping and final determination of no shipments.
People’s Republic of China	Polyethylene Retail Carrier Bags	AD/CVD	Final determination of no shipments.
People’s Republic of China	Pure Magnesium	CVD	Final results of antidumping duty administrative review determining no shipments.
People’s Republic of China	Paper Clips	AD	Continuation of antidumping duty order.
India	Cold-Drawn Mechanical Tubing of Carbon and Alloy Steel	AD	Final results of the expedited first sunset review of the countervailing duty order recommending continuation of duties.
European Union (European Commission)
China, Taiwan, Malaysia	Stainless Steel Fittings	AD	EU renews anti-dumping measures on stainless steel fittings from China and Taiwan for five years, extends measures to Malaysia.

WTO, FTAs

• WTO panel rules against India in dispute against EU, Japan, Taiwan; says global trading rules violated.
• India, EU conclude fourth round of talks for proposed trade agreement.
• Canada donates CAD 1.4 million to WTO Fisheries Funding Mechanism.
• WTO, World Bank, WEF launch joint effort to provide tailored trade and climate analysis.
• WTO dispute panels issue reports regarding Indian tech tariffs.
• WTO members deepen discussion on e-commerce moratorium.      
• India and Russia in ‘advanced talks’ over free trade agreement.
• India’s tit-for-tat diplomacy a great leveller, but FTA with UK on course despite irritant strains.
• ‘Need to leverage size & scope of India’s huge economy, expand talks on FTA,’ says Israel’s Economy minister.
• German Chancellor pledges progress on EU-Indonesia FTA.
• Members continue discussion on TRIPS Decision extension to therapeutics and diagnostics.
• Uzbekistan steps closer to WTO Accession.

TRADE POLICY

 European Union

• Commission reports on eleventh negotiation round with five Eastern and Southern African countries to deepen existing Economic Partnership Agreement.
• EU addresses Indonesian hot-rolled stainless steel circumventing EU tariffs via Türkiye.

USA

• US pips China to become India’s top trade partner.
• US trade rep deepens economic security ties in Asia, reviews IPEF.

India

• Govt to announce national retail trade policy, accident insurance scheme for GST-registered traders soon.
• Foreign trade in Indian currency Soon, says HCIM Piyush Goyal.
• EAM Jaishankar holds bilateral talks with Jamaican counterparts, others at India-CARICOM meet.

UK

• Statement of intended final determination excluding India from the Developing-Country Exception under UK’s tariff quota.

CUSTOMS

• Termination of ADD investigation on imports of Sulphur Black from China PR.
• Allocation of additional quantity of 2360 MT for export of raw cane sugar to USA under Tariff rate quota (TRQ) for the fiscal year 2023.
• Notification to impose anti-dumping duty on Luxury Vinyl Tiles from China, Taiwan and Vietnam.

SANCTIONS

• Russian arms sales to India stall due to fears over US sanctions.
• EU Considers Sanctions on RT Serbian-Language Balkan Broadcasts.
• Poland wants Gazprombank in new EU sanctions.
• EU Parliament approves legislation to counter crypto-asset sanctions evasion.
• Germany pushes for EU to include nuclear energy sanctions in the next package for Russia.
• The G7 announced the creation of a new Enforcement Coordination Mechanism “to bolster compliance and enforcement of our measures and deny Russia the benefit of G7 economies.”.

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