Trade Update – August 21, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
USA (Department of Commerce)
Russia	Carbon Steel Plate	AD	Notification of termination of the suspension agreement and issuance of Antidumping Duty order.
Brazil, the Republic of Korea, Mexico, and Poland	Emulsion Styrene-Butadiene Rubber	AD	Notification of continuation of antidumping duty orders.
Italy	Forged Steel Fluid End Blocks	AD	Notifications of the final results of the antidumping duty administrative review; 2020-2021
People’s Republic of China	Wooden Bedroom Furniture	AD	Notification of final results of changed circumstances review.
People’s Republic of China	Certain New Pneumatic Off-the-Road Tires	AD	Notification of third version of final determination of the results of 2012-2013 antidumping administrative review pursuant to court decision.
Republic of Korea	Certain Hot-Rolled Steel Flat Products	AD	Notification of final results of antidumping duty administrative review and final determination of no shipments; 2021-2022
Germany	Seamless Carbon and Alloy Steel Standard, Line, and Pressure Pipe	AD	Notification of determination that revocation of the antidumping order would lead to injury to domestic industry.
People’s Republic of China	Crystalline Silicon Photovoltaic Cells	CVD	Notice of correction to the final results and amended final results of countervailing duty administrative review; 2020.
India	Finished Carbon Steel Flanges	CVD	Notification of preliminary results of countervailing duty administrative review; 2021
Republic of Turkey	Carbon and Alloy Steel Wire Rod	CVD	Notification of continuation of the countervailing duty order.
India and the People’s Republic of China	Certain Lined Paper Products	AD, CVD	Notification of continuation of antidumping duty orders and countervailing duty order.
Republic of Korea	Dioctyl Terephthalate	AD	Notification of continuation of antidumping duty order.
Europe (European Commission)
Türkiye, Vietnam, Taiwan, Indonesia	Stainless steel cold-rolled flat products	AD	Initiation of anti-circumvention investigation.
Türkiye, Vietnam, Taiwan, Indonesia	Stainless steel cold-rolled flat products	CVD	Initiation of anti-circumvention investigation.
United Kingdom, China, Indonesia	Biodiesel	CVD	Notification of initiation of anti-circumvention investigation.
United Kingdom
China	Certain Bicycle Parts	AD	Notice of initiation of antidumping investigation

WTO, FTAs

• Indonesia initiates WTO dispute complaint regarding EU duties on biodiesel imports.
• WTO dispute panel issues report regarding Chinese duties on US products.
• Ukraine formally accepts Agreement on Fisheries Subsidies.
• China lashes out at US ‘double standards’ at the WTO.
• Recently signed FTA to boost Vietnam, Israel economic, trade relations.
• UK may relax work visa rules for Indians as part of FTA.
• Thailand signs mini-FTA with Yunnan province in southwest China

TRADE POLICY

 Europe

• EU deforestation rules risk ‘catastrophic’ impact on global trade, says International Trade Centre chief.
• E-Commerce platforms should prep for EU VAT and customs changes

USA

• Saudi stockpile of US government debt shrinks to six-year low.
• US set to request a dispute settlement panel under the USMCA to escalate its issues with Mexico’s corn policy.

UK

• Non-EU trade boosts UK exports by 1.8%, imports drop.
• UK banks shun companies trading with Ukraine.
• British firms quizzed on Chinese tech links as US-style clampdown looms.

India

• India makes first payment for UAE oil in rupees.
• India’s foreign trade crosses $800 bn mark in first 6 months of 2023.
• Notification of Scheme for Promotion of Research and Innovation in Pharma and MedTech Sector (PRIP) in the gazette.

CUSTOMS

• An export duty has been levied on onions.
• Amendment in details of authorized agencies under Appendix 2E of the FTP, 2023.
• Notification of a quality control order (QCO) on electric ceiling type fans.
• Notification of a draft QCO on hinges at the WTO.
• Notification of a draft QCO on laboratory glassware at the WTO.
• Notification of a draft QCO on polypropylene at the WTO.

SANCTIONS

• US imposes sanctions, visa restrictions on 4 Russians accused in poisoning of Putin critic Alexei Navalny.
• US Treasury sanctions entities tied to arms deals between North Korea and Russia.
• EU prepares sanctions against Niger coup officers.
• Swiss government lines up behind EU’s 11th round of sanctions against Russia.

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.