Trade Update – February 6, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
USA (Department of Commerce/International Trade Commission/International Trade Administration)
India, Indonesia and South Korea	Cut-to-Length Carbon-Quality Steel Plate (CTL plate)	AD/CVD	Institution of reviews to determine whether revocation of the countervailing duty orders and antidumping duty orders on CTL plate from India, Indonesia, and South Korea would be likely to lead to continuation or recurrence of material injury.
China and India	Lined Paper School Supplies	AD/CVD	Institution of reviews to determine whether revocation of the countervailing duty orders and antidumping duty orders on lined paper school supplies from India and China would be likely to lead to continuation or recurrence of material injury.
India	Polyethylene Terephthalate Film, Sheet, and Strip	AD	Issuance of Final Results of Administrative Review (2020–2021) of orders on anti-dumping duty on imports of Polyethylene Terephthalate Film, Sheet, and Strip from India.
India (Directorate General of Trade Remedies)
Indonesia, Malaysia and Thailand	Saturated Fatty Alcohol	AD	Final Findings issued in the sunset review of anti-dumping duties imposed on imports of Saturated Fatty Alcohol from Indonesia, Malaysia and Thailand.

WTO, FTAs

• United States appeals panel report regarding U.S. origin marking for Hong Kong and Chinese goods.
• United States appeals panel reports regarding U.S. duties on steel and aluminium products.
• EU and Singapore launch Digital Partnership.

TRADE POLICY

 European Union

• The European Union revealed the “Green Deal Industrial Plan” that aims to provide massive subsidies.

India

• The Finance Minister of India presented the annual Budget 2023 on February 1, 2023.
• The conditions of SION E-136 and para 4.05(iii) of Handbook of Procedures, 2015-20 was amended to include supporting manufacturers for job work.
• Enforcement date of QCOs for 10 Chemicals extended: (i) Morpholine (ii) Acetic Acid (iii) Methanol (iv) Aniline (v) Pyridine (vi) Gamma Picoline (vii) Beta Picoline (viii) Potassium Carbonate (ix) Acetone (x) Sodium Tripolyphosphate.

USA

• The U.S. International Trade Administration has opened the Aluminum Import Monitoring and Analysis System to comments.

SANCTIONS

• Japan has tightened its sanctions against Russia, adding goods to an export ban list and freezing the assets of Russian officials and entities.
• The United States has added seven entities in Iran to the Entity List.
• The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed full blocking sanctions against 22 individuals and entities across multiple countries related to a sanctions evasion network supporting Russia’s military-industrial complex.

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