Trade Update – July 10, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
UK (Trade Remedies Authority)
Egypt	Continuous filament glass fibre products	Countervailing (CVD)	Notification of initiation of a scope review.
China	Aluminium road wheels	Anti-dumping (AD)	Notification of change to the intended final recommendation.
USA (Department of Commerce)
China PR	Chlorinated Isocyanurates	AD	Notification of preliminary findings of administrative review.
Japan	Glycine	AD	Notification of preliminary findings of administrative review.
India	Glycine	AD	Notification of preliminary findings of administrative review.
India	Certain Quartz Surface Products	AD	Notification of preliminary results of an administrative review; preliminary determination of no shipping and partial rescission of administrative review.
India	Certain Cold-Drawn Mechanical Tubing of Carbon and Alloy Steel	AD	Notification of preliminary findings of administrative review.
China PR, India, Thailand, Viet Nam	Certain Frozen Warmwater Shrimp	AD	Notification of continuation of anti-dumping duty orders.
India (Directorate General of Trade Remedies)
NA	Low Ash Metallurgical Coke	Safeguard	Notification of a corrigendum to the initiation notification.

WTO, FTAs

• Investment facilitation negotiators announce deal on agreement’s text.
• Co-convenors of e-commerce negotiations review progress, reflect on way forward.
• Working Party injects fresh momentum into Azerbaijan’s WTO accession process.
• WTO issues new edition of World Tariff Profiles.
• India’s trade talks get complex with new issues such as environment, gender and government procurement.
• India may offer flexibility on Bilateral Investment Protection Agreement to UK.
• WTO members consider five regional trade agreements, discuss improving functioning of committee on regional trade agreements.
• WTO trade monitoring report on G20 trade measures shows many G20 export restrictions remain in place, including on food and fertilizers.

TRADE POLICY

 Europe

• EU Commission reports on twelfth negotiation round with five eastern and southern African countries to deepen existing Economic Partnership Agreement.
• EU plans to extend the current Generalized Scheme of Preferences for an additional four years.
• The European Commission has adopted an implementing regulation relating to the Foreign Subsidies Regulation

USA

• ICEA sets up task force to raise Indo-US electronics trade to $100 billion by 2033.

India

• Steel mills seek CBAM-like safeguard mechanism against cheaper imports.
• India for ‘de-dollarising’ trade with more nations.
• India refiners start yuan payments for Russian oil imports.

UK

• India-UK proposed FTA may enhance competitiveness of SMEs owned, led by women: UK minister.
• UK opposition Labor Party discusses trade deal negotiations between Britain, India with Indian High Commissioner.

CUSTOMS

• The Central Government permits the sale of excess flue cured virginia tobacco crop of the registered growers and unauthorised crop of unregistered growers under an auction setup.
• The Central Government has made certain amendments to the SEZ Rules.
• DRI notices to 7 exporters selling restricted goods.
• Notification of a Quality Control Order (QCO) on lighters.
• Notification of a QCO on potable water bottles that are made of steel, aluminium, and copper.
• Notification of extension of enforcement date for select categories of footwear.

SANCTIONS

• At SCO summit, Putin calls for trading in local currencies to blunt western sanctions.
• Iran boasts to OPEC of growing crude sales despite sanctions.
• Ukraine adds Georgian Airways to sanctions list after Russia return.
• UK toughens up sanctions against Iran.

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