Trade Update – January 16, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
USA (Department of Commerce/International Trade Commission/International Trade Administration)
Republic of India	Certain Cold-Drawn Mechanical Tubing of Carbon and Alloy Steel	AD	Determination that Tube Products of India, Ltd., a unit of Tube Investments of India Limited (collectively, TII) made sales of subject merchandise in the United States at prices below normal value during the period of review (POR) June 1, 2020, through May 31, 2021.
Republic of India	Certain Quartz surface products	AD	Determination certain quartz surface products (QSP) from India were sold in the United States at less than normal value during the period of review (POR), December 13, 2019, through May 31, 2021.
People’s Republic of China	Certain corrosion inhibitors	AD	Notice of initiation and preliminary results of a changed circumstances review of the antidumping duty order on certain corrosion inhibitors from the People’s Republic of China
People’s Republic of China	Crystalline silicon photovoltaic cells, whether or not assembled into modules		Determination that countervailable subsidies were provided to producers and exporters of crystalline silicon photovoltaic cells, whether or not assembled into modules, (solar cells) from the People’s Republic of China (China) during the period of review (POR), January 1, 2020, through December 31, 2020.
People’s Republic of China	Tapered roller bearings and parts thereof, finished and unfinished	AD	Determination that Shanghai Tainai Bearing Co., Ltd. (Tainai) sold tapered roller bearings and parts thereof, finished and unfinished, (TRBs) from the People’s Republic of China (China) at less than normal value during the period of review (POR), June 1, 2020, through May 31, 2021.
People’s Republic of China	Chlorinated isocyanates	AD	Determination that Heze Huayi Chemical Co., Ltd. (Heze Huayi) and Juancheng Kangtai Chemical Co., Ltd. (Kangtai) sold chlorinated isocyanurates (chlorinated isos) from the People’s Republic of China (China) at less than normal value during the period of review (POR) June 1, 2020, through May 31, 2021.
India (Directorate General of Trade Remedies)
People’s Republic of China	Certain Hot Rolled and Cold Rolled Stainless Steel Flat Products	Anti-Subsidy	Notice of adoption of PCN methodology in Sunset review anti-subsidy investigation concerning imports of Certain Hot and Rolled and Cold Rolled Stainless Steel Flat Products originating in or exported from China PR.
People’s Republic of China	High Tenacity Polyester Tarn	AD	Notice of Oral hearing of sunset review of anti-dumping duty imposed on imports of High Tenacity Polyester Yarn from China PR.
People’s Republic of China and Thailand	Grinding Media Balls excluding Forged Grinding Medial Ball	AD	Notice of Oral hearing of sunset review of anti-dumping duty imposed on imports of Grinding Media Balls excluding Forged Grinding Media Ball from China PR and Thailand.

WTO, FTAs

• Negotiations on a Free Trade Agreement (FTA) between India and Switzerland will resume in February
• India rules out FTA with the US
• India to seek easing of EU steel quotas, tariffs in FTA talks
• Germany gives EUR 2.85 million to support safe agriculture trade in developing countries

TRADE POLICY

 European Union

• France pitches massive new ‘Made in Europe’ strategy
• Joint Declaration on EU-NATO Cooperation signed, with promises on space technology cooperation, and sanctions on Russia
• EU’s foreign subsidies regulations entered into force on January 12, 2023

UK

• UK and EU reach agreement on trade data sharing related to Northern Ireland
• UK and UAE sign MoU on cooperation in the energy sector
• UK building two “freeports” in Scotland – allowing tariff free imports

USA

• US, Taiwan hold trade talks
• US and India announce new Trade Policy Forum (TPF) working group on resilient trade – to strengthen a sustainable trade relationship between the two countries

India

• Indian authorities considering lifting rice export curbs as supply improves
• Govt will take appropriate decision in March-April on lifting wheat export ban: DGFT chief
• India’s December gold imports plunge 79% from a year earlier
• India, Guyana agrees to cooperate in oil and gas

CUSTOMS

• Amendment giving Mobile and Electronic Devices Export Promotion Council (MEDEPC) jurisdiction to issue Registration-Cum-Membership Certificate (RCMC) for smartphone and related products
• Revision in various HS codes to fix anomalies
• Discontinuation of Tariff Rate Quota for Import of Crude Soya bean Oil
• CBIC notifies the Customs Valuation Rules 2023, effective from February 11 – aimed at addressing the undervaluation of specified imported goods

SANCTIONS

• Canada imposes sanctions on ex-presidents of Sri Lanka
• EU to impose sanctions on Iran, Belarus as they “support Russia’s war in Ukraine”
• UK sanctions Iran’s Prosecutor General after execution of British-Iranian national

 

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