Trade Update – June 26, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
UK (Trade Remedies Authority)
China	Optical Fibre Cables	Subsidy	Release of statement of essential facts.
USA (Department of Commerce)
Greece	Large Diameter Welded Pipe	AD	Preliminary results of antidumping duty administrative review 2021–2022.
India	Sulfanilic Acid	CVD	Rescission of countervailing duty administrative review 2022.
Vietnam	Paper File Folders	AD	Amended preliminary determination of less than-fair-value investigation.
Korea	Carbon and Alloy Steel Cut-to-Length Plate	AD	Preliminary results of antidumping duty administrative review 2021–2022.
China	Carton-Closing Staples	AD	Final results of sunset review and revocation of order.
China and Vietnam	Gas Powered Pressure Washers	CVD, AD	Scheduling of the final phase of countervailing Duty and antidumping Duty Investigations.
China	Certain Carbon Steel Butt-Weld Pipe Fittings	AD	Preliminary results of covered merchandise inquiry.
China	Certain Steel Racks and Parts thereof	AD	Amended final results of antidumping duty administrative review 2020–2021.
China	Multilayered Wood Flooring	AD, CVD	Determination of revocation of the countervailing and antidumping duty orders would be likely to lead to continuation or recurrence of material injury.

WTO, FTAs

• India negotiating with Brazil to resolve sugar subsidy row at WTO.
• EU and Kenya conclude negotiations for an ambitious Economic Partnership Agreement with strong sustainability provisions.
• France commits EUR 1 million to WTO Fisheries Funding Mechanism – Press/929
• E-commerce negotiators continue to seek “landing zones” on text proposals.
• DDG Zhang calls on least developed countries to “strategize on their trade priorities”.
• One year on from MC12, WTO Chairs Programme holds Annual Conference.

TRADE POLICY

 Europe

• Release of Joint Communication on a European Economic security strategy.
• Brazil calls for ‘common sense’ negotiations on EU-Mercosur trade pact.

USA

• India-US Joint Statement focuses on trade, critical tech, defense, supply chains.
• India, US decision to end WTO disputes to help boost bilateral trade.

India

• India backs exceeding WTO farm sops limit.
• India-UK FTA: India draws red lines to safeguard sensitive areas.
• India set to revive FTA talks with South Africa-led group.

UK

• UK-India free trade talks to get push after delays.
• UK signs a MoU designed to grow trade with Utah, a US state.

CUSTOMS

• Amendment under Appendix 2T (List of Export Promotion Councils/Commodity Boards/Export Development Authorities) of Appendices and ANFs of FTP.
• Amendments in Category 5B of the Appendix 3 (SCOMET LIST) to Handbook of Procedures.
• Amendment in Export policy of HS Code 2610.
• Standard Input Output Norm (SION) E-121 for export of Refined Soyabean Oil (edible grade) has been amended with revised import entitlements.
• Extension of enforcement date for n-Butyl Acrylate and Toulene to 22^nd December 2023.
• Amendments in the policy and procedure respectively concerning the General Authorization for Export of Chemicals and related Equipment.

SANCTIONS

• UK adopts the Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2023.
• EU adopts 11^th sanctions package against Russia.

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