Trade Update – June 20, 2022

KEY TRADE REMEDIAL UPDATES

Product		Subject countries	Investigation	Particulars
DGTR (Directorate General of Trade Remedies)
Fluoro Back sheet  excluding  transparent  back sheet		China PR	Anti-dumping Duty (AD)	MOF imposes AD duties
USA (Department of Commerce/International Trade Commission)
India and China		Sulfanilic Acid	Sunset Review (SSR)	Final Results of Sunset Reviews and Revocation of Orders.
India		Barium Chloride	Countervailing Duty (CVD)	Preliminary Affirmative Countervailing Duty Determination
Australia, Brazil, Japan, Korea, Netherlands, Russia, Turkey, and the United Kingdom		Hot-Rolled Steel Flat Products	AD & CVD SSR	Scheduling of Full Five-Year Reviews.
EU (European Commission)
Rebars		Belarus	AD SSR	Initiation of Sunset Review

WTO, FTAs

• WTO members secure unprecedented package of trade outcomes at MC12, including:

– A Ministerial Declaration on the Emergency Response to Food Insecurity

– A Ministerial Decision on World Food Programme (WFP) Food Purchases Exemptions from Export Prohibitions or Restrictions

– A Ministerial Declaration on the WTO Response to the COVID-19 Pandemic and Preparedness for Future Pandemics;

– A Ministerial Decision on the Agreement on Trade-related Aspects of Intellectual Property Rights

– A Decision on the E-commerce Moratorium and Work Programme

– An Agreement on Fisheries Subsidies

TRADE POLICY

USA

• David S. Johanson Becomes Chair of U.S. International Trade Commission
• Freight Rail Coupler Systems and Components from China Do Not Injure U.S. Industry, says USITC

UK

• India, UK Launch 4th Round Of Free Trade Agreement Talks In Geneva
• Barclays and Department for International Trade (DIT) Announce Industry-Leading Partnership Agreement

EU

• The EU teams up with Ecuador, Kenya, New Zealand to forge cooperation on trade and climate
• The EU has drafted legislation that aims to strengthen the bloc’s hand in taking action against the UK over possible breaches of the Brexit Withdrawal Agreement and EU-UK trade deal.
• EU has allocated 100 million euros (USD104 million) to Egypt’s food crisis as “urgent relief.”

CUSTOMS

• Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

SANCTIONS AND EXPORT CONTROL

• Russia bans 121 Australians including journalists and defence officials
• US unveils new sanctions on Iranian petrochemical network and front companies

 

 

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.