Trade Update – June 12, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
USA (Department of Commerce)
India, Malaysia, Thailand, Taiwan and Vietnam	Boltless Steel Shelving Units	AD	Preliminary determination of injury by reason of imports of boltless steel shelving units from India, Malaysia, Thailand, Taiwan, Vietnam.
India, Indonesia, and the Republic Of Korea	Certain Cut-To-Length Carbon-Quality Steel Plate	AD	Final results of the expedited fourth sunset reviews of the antidumping duty orders on imports of certain cut-to-length carbon-quality steel plates from India, Indonesia, and the republic of Korea.
India	Certain Lined Paper Products	CVD	Final results of the expedited sunset review of the countervailing duty order on imports of certain lined paper products from India.
India	Silicomanganese	AD	Preliminary results of administrative review (2021– 2022) of antidumping duty imposed on imports of silicomanganese from India.
Cambodia, China, Colombia, India, Malaysia, Portugal, Taiwan, Turkey, and Vietnam	Paper Shopping Bags	AD/CVD	Institution of anti-dumping and countervailing duty investigations concerning imports of paper shopping bags from Cambodia, China, Colombia, India, Malaysia, Portugal, Taiwan, Turkey, And Vietnam.
India	Fine Denier Polyester Staple Fiber	CVD	Final results of the expedited first sunset review of the countervailing duty order on imports of fine denier polyester staple fiber from India.
India	Welded Stainless Pressure Pipe	AD	Final results of administrative review (2020– 2021) of antidumping duty on imports of welded stainless pressure pipe from India.
India (Directorate General of Trade Remedies)
China	Fishing Nets	AD	Final Findings issued in the Sunset Review of the anti-dumping duty imposed on “fishing nets” originating in or exported from China PR.
China PR and Malaysia	Fishing Nets	AD	Final Findings issued in anti-circumvention investigation concerning alleged circumvention via Malaysia of the anti-dumping duty imposed on imports of “fishing net” originating in or exported from China PR.

WTO, FTAs

• On World Oceans Day, DG Okonjo-Iweala welcomes the EU’s acceptance of the fishing subsidies agreement.
• Australia, EU and UK: India to hold negotiations on 3 key trade agreements in June.
• India and the EU asked the WTO dispute settlement body not to adopt a ruling on ICT import duties till September 19.

TRADE POLICY

 Europe

• China berates EU at the World Trade Organization for policies it calls unfair.
• EU warns against adjusting MERCOSUR trade deal.

USA

• India and the US hold maiden strategic trade dialogue.
• Hopes dim for quick US-UK digital trade deal.
• The U.S. House of Representatives and U.S. Senate introduced bipartisan legislation that would give the U.S. government tools to combat unfair trade practices.

India

• Easy trade finance system key to achieve US$ 2 trillion export target by 2030: DGFT
• India is open to negotiating a trade agreement with Africa.
• Customs to introduce additional disclosures for export-import of medicinal products from July 1.
• Amendment in import policy of pet coke.
• India in talks with US on steel, aluminum tariff exemption.

UK

• ASEAN, UK commit to enhancing trade partnership.
• Rishi Sunak and Joe Biden sign ‘Atlantic Declaration’ but hope of trade deal ends.

SANCTIONS

• US slaps sanctions on Iranian, Chinese targets over Tehran’s missile, military programs.
• Britain steps up sanctions against Belarus for its support of Russia.
• South Korea slaps sanctions on North’s hacking group after failed satellite launch.
• The European Union has expanded the categories of Russians who may be targeted for sanctions.
• Ukraine has signed a decree to impose sanctions against 178 Russian nationals, including constitutional court judges, for a period of five years.

 

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