Trade Update – January 8, 2024

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation(AD – Antidumping, CVD – Countervailing)	Particulars
USA (Department of Commerce)
China	Crystalline Silicon Photovoltaic Cells, Whether or Not Assembled Into Modules	AD	Preliminary results determining no dumping and partial rescission of review.
China	Chlorinated Isocyanurates	AD	Final results of administrative review determining dumping.
Korea	Large Power Transformers	AD	Final results of second sunset review recommending continuation of duties.
India	Paper Shopping Bags	AD	Preliminary results determining dumping and postponement of the final determination.
China	Paper Shopping Bags	AD	Preliminary results determining dumping and postponement of the final determination.
India	Stainless Steel Bar	AD	Final results of fifth sunset review recommending continuation of duties.
India	Glycine	CVD	Final results of administrative review determining grant of countervailable subsidies.
India (Directorate General of Trade Remedies)
China, Hong Kong	Printed Circuit Boards	AD	Final findings recommending imposition of anti-dumping duties.
China	New Pneumatic Radial Tyres for Buses and Lorries	CVD	Initiation of a sunset review of countervailing duties.

WTO, FTAs

• Duty concessions on petrochemical products a sticking point in India-Oman FTA talks.
• UK looks for greater share in India auto sector under FTA: Commerce Secretary Sunil Barthwal.
• Gaza war hits India-Israel FTA talks, diverts diamond shipments.
• Lower duty for electric vehicles in India-UK FTA inevitable: Indian government to automakers.

TRADE POLICY

EU

• French brandy targeted by China in escalating trade dispute.

UK

• New UK border checks are ‘disaster waiting to happen’, warns flower industry.

USA

• Protracted China tariff review irks USA’s industry.

India

• India-US bilateral defence trade surges to USD 25 billion.
• India imposes stringent quality controls on pharmaceutical manufacturing.
• New partnership between the Voluntary Carbon Market Integrity Initiative and the Carbon Markets Association of India to boost India’s participation in carbon markets.
• India and the USA have agreed on the terms for joint monitoring of the India’s steel and aluminium exports.

CUSTOMS

• Notification of certain exceptions to the quality control order (QCO) on polyethylene material for moulding and extrusion.
• Notification of a QCO on electrical accessories.
• Notification of amendment in import policy and policy condition of screws.
• Notification of a QCO on laboratory glassware.
• Notification of allocation of 8606 MTRV (metric tonnes raw value) of raw cane sugar to US under the tariff rate quota scheme for US fiscal year 2024.
• Notification of amendment in import policy of used IT assets from SEZ to DTA under para 2.31 of the Foreign Trade Policy, 2023.

SANCTIONS

• China sanctions US defence companies over Taiwan arms deal.
• EU sanctions Russia’s largest diamond producer Alrosa.

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.