Trade Update – July 25, 2022

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation			Particulars
USA (Department of Commerce/International Trade Commission)
Brazil, China, India, Japan, Korea, The United Kingdom	Cold-Rolled Steel Flat Products	AD, CVD			US ITC makes determinations in Five-Year (Sunset) Review Concerning Cold-Rolled Steel Flat Products From Brazil, China, India, Japan, Korea, and The United Kingdom
China	1-Hydroxyethylidene-1, 1- Diphosphonic Acid	AD			Final Results of the Expedited First Sunset Review
China	Aluminum Foil	AD, CVD			Initiation of Circumvention Inquiries of the Antidumping Duty and Countervailing Duty Orders
China	Floor-Standing, Metal-Top Ironing Tables and Certain Parts Thereof	AD			Initiation and Preliminary Results of Changed Circumstances Review and Intent To Revoke Order
China	Magnesia Carbon Bricks	AD, CVD			Notice of Covered Merchandise Referral and Initiation of Covered Merchandise Inquiry
Europe (European Commission)
China	Graphite electrode systems		Anti-subsidy	In the case, AS685, anti-subsidy proceeding concerning imports of graphite electrode systems originating in the People’s Republic of China, EC decides to terminate the matter.
DGTR (Directorate General of Trade Remedies)
China	Polytetrafluoroethylene PTFE		AD	Sunset Review of Anti-Dumping Investigation concerning imports of “Polytetrafluoroethylene PTFE” originating in or exporting from China – PR.
Tunisia (Ministry of Trade and Export Development)
All exporters of the product	Wire of iron or non-alloy steel used in the manufacture of upholstery springs		Safeguards	Tunisia has notified the Committee on Safeguards of the initiation of a safeguard investigation on imports of wire of iron or non-alloy steel used in the manufacture of upholstery springs.

WTO, FTAs

• Britain Launches Free Trade Talks With Israel.
• Green groups in last-ditch bid to block UK’s Australia trade deal.
• USITC Launches New Investigation on Possible Modification to the United States-Korea Free Trade Agreement Rules of Origin
• WTO Members urged to find new ways to rejuvenate agriculture negotiations
• Items proposed for consideration at the next meeting of the Dispute Settlement Body
• The second review of the trade policies and practices of Moldova took place on 20 and 22 July 2022.
• Preparations under way for high-level event on environmental sustainability in December
• WTO issues updated note on trade in medical goods in the context of tackling COVID-19

TRADE POLICY

India

• Amendment of import policy conditions for item under ITC (HS) Code 05119999.
• Implementation of issues between MoUs between India, Myanmar Mozambique and Malawi for the imports of pigeon peas.

USA

• Senior Officials for the Indo-Pacific Economic Framework Meet in Singapore.
• USTR Announces Fiscal Year 2023 WTO Tariff-Rate Quota Allocations for Raw Cane Sugar and Sugar-Containing Products.
• Senate Passes Bipartisan Legislation to Temporarily Suspend Tariffs on Imported Infant Formula, Ease Costs and Address Shortage.
• US ITC Blocks Toner Supply Imports That Infringe Canon’s IP.
• US ITC Rules against Import Tariffs on Fertilizers from Russia, Trinidad and Tobago.

Europe & UK

• 9th EU-China High-Level Economic and Trade Dialogue (HED) was held on 19^th July 2022.
• European Commission proposes to temporarily scrap tariffs on goods used to produce fertilizer.

CUSTOMS

• Extension of the concessional Agriculture Infrastructure and Development Cess (AIDC) of Nil on Lentils (Mosur) up to and inclusive of 31st March, 2023.
• Enabling TRQ holders to import gold through IIBX under TRQ mechanism of India-UAE CEPA.
• CBIC reduces the Road and Infrastructure Cess on export of Petrol.
• CBIC to reduce the Special Additional Excise Duty on production of Petroleum Crude and export of Aviation Turbine Fuel.
• Exempt Petrol, Diesel and Aviation Turbine Fuel from Special Additional Excise Duty and Road and Infrastructure Cess when exported from units located in the Special Economic Zones (SEZ).
• Reduction of the Special Additional Excise Duty on production of Petroleum Crude and export of Aviation Turbine Fuel.
• Reduction of the Special Additional Excise Duty on exports of Petrol and Diesel.

SANCTIONS AND EXPORT CONTROL

• UK has amended its legislation regarding import sanctions against Russia. The reflect the implementation of new sanctions relating to oil, coal and gold.
• EU imposes a new round of sanctions against Russia, mainly targeting gold and jewellery. The same package also eases sanctions in some areas to allow Russian state-owned gas companies to conclude deals with Europeans on the transport of oil to third-party countries

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.