Trade Update – December 4, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
USA (Department of Commerce)
India	Brass Rod	AD	Preliminary determination of sales at less than fair value from India, extension of provisional measures and postponement of final determination.
China	Forged Steel Fittings	CVD	Final results of sunset review recommending continuation of duties.
India	Non-Refillable Steel Cylinders	AD	Preliminary determination of sales at less than fair value from India, extension of provisional measures and postponement of final determination.
China, Taiwan and Italy	Forged Steel Fittings	AD	Final results of sunset review recommending continuation of duties.
Republic of Korea	Brass Rod	AD	Preliminary determination of sales at less than fair value from India, extension of provisional measures and postponement of final determination.
Taiwan	Light-Walled Welded Rectangular Carbon Steel Tubing	AD	Rescission of administrative review.
China	Activated Carbon	AD	Continuation of existing antidumping duties for five more years.
China	Folding Gift Boxes	AD	Continuation of existing antidumping duties for five more years.
India	Boltless Steel Shelving Units Prepackaged for Sale	AD	Preliminary determination of absence of sales at less than fair value from India.
Germany	Thermal Paper	AD	Preliminary determination of sales at less than normal value from Germany.
Republic of Korea	Thermal Paper	AD	Preliminary determination of sales at less than normal value from Republic of Korea.
China	Silicon Metal	AD	Continuation of existing antidumping duties for five more years.
Republic of Korea	Heavy Walled Rectangular Welded Carbon Steel Pipes and Tubes	AD	Final results of administrative review finding absence of sales at less than normal value.
Republic of Korea	Carbon and Alloy Steel Wire Rod	AD	Final results of administrative review finding absence of sales at less than normal value.
India (Directorate General of Trade Remedies)
Malaysia	Textured Tempered Coated and Uncoated Glass	AD	Final results of sunset review recommending discontinuation of antidumping duties.
UK (Trade Remedies Authority)
China	Cast Iron Articles	AD	Statement of essential facts.

WTO, FTAs

• Mini-ministerial on agriculture seeks political guidance for negotiators ahead of MC13.
• Members consider seven regional trade agreements, discuss improvements to Committee’s work.
• WTO Goods barometer shows trade volumes returning to trend amid high uncertainty.
• Heads of WTO, FAO sign agreement to boost cooperation on trade, food and climate change
• Director-General welcomes Steel Standards Principles for decarbonization, launched at COP28.

TRADE POLICY

EU

• Landmark EU-Japan data deal one step closer to ratification.
• European solar sector opposes trade defence measures via public statement.

UK

• Rishi Sunak announces almost £30 billion of private investment at CEO summit.

USA

• US pledges $3 billion to green climate fund at COP28.
• New US rules, aimed at curbing China, could make it harder for EV buyers to claim a full tax credit.
• S. Whiskey Is ‘Collateral Damage’ in Trans-Atlantic trade fight.

India

• PM Modi participates in the COP28 Presidency’s Session on transforming climate finance.
• India and Sweden co-host the Phase-II of Leadership Group for Industry Transition at COP28.
• India and UAE co-host the Global Green Credit Initiative at COP28.
• Piyush Goyal, counterpart Gina Raimondo reviewed India-US CEO Forum.

CUSTOMS

• Notification of amendment of tariff values for certain items.
• Notification of amendment in enforcement date for the quality control order (QCO) on aluminium and aluminium alloys.
• Notification of amendment in enforcement date for the QCO on nickel.
• Notification of amendments to policies for exports of certain agricultural products by National Cooperative Exports Limited (NCEL).
• Notification of amendment in tariff rates for various oils, gold and areca nuts.

SANCTIONS

• US OFAC has notified guidelines for authorizing limited safety and environmental transactions involving blocked persons or vessels, and sanctioned additional vessels and entities.
• United States demands that 3 countries ban tankers carrying Russian oil from sailing under their flags.
• India to resume import of oil from Venezuela after 3 years as US sanctions on Caracas ease.
• European Steel Association warns against prolonging EU sanctions delays on Russian steel imports.
• Biden administration makes exceptions to sanctions on Venezuelan airline to allow deportation flights.
• EU set to push Xi Jinping to stop Chinese firms getting around sanctions on Russia.
• EU states push against ‘no Russia clause’ in sanctions package.
• US DOJ bolsters resources to crack down on sanctions evasion, export control breaches.

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.