Trade Update – June 6, 2022

KEY TRADE REMEDIAL UPDATES

Product		Subject countries	Investigation	Particulars
USA (Department of Commerce/International Trade Commission)
Finished Carbon Steel Flanges	India		Anti-dumping Duty (AD)	Initiation of a Changed Circumstances Review (CCR) of the AD order
Circular Welded Carbon Steel Standard Pipe and Tube Products	Turkey		AD	USDOC issues preliminary determination of sales at less than normal value
Certain Carbon and Alloy Steel Cut-To-Length Plate	Belgium & Italy		AD	Belgium & Italy: USDOC issues preliminary determination of sales at less than normal value
Diffusion-Annealed, Nickel-Plated Flat-Rolled Steel Products	Japan		AD	USDOC issues preliminary determination of sales at less than normal value
Certain Iron Construction Castings	Brazil, Canada & China		AD & Countervailing Duty (CVD)	USDOC issues continuation of AD and CVD Orders
Certain Carbon and Alloy Steel Cut-to-Length Plate	Republic of Korea		CVD	USDOC issues preliminary determination of existence of de minimis net countervailable subsidies

WTO, FTAs

• WTO members adopt two panel reports, (DS524) one concerning Mexico’s challenge to Costa Rica’s restrictions on imports of fresh avocados from Mexico, (DS595) the second concerning Turkey’s challenge to a European Union safeguard measure on restricting imports of certain steel products
• WTO releases Trade Policy Review of New Zealand
• Madagascar launches safeguard investigation on paints
• 60 WTO nations including India back new method on food subsidies given to purchase, stockpile and distribute food to ensure food security for developing and poor nations

EU

• EU and Taiwan hold Trade and Investment Dialogue

UK

• UK-US tariff resolution creates export opportunities for steelmakers and whisky makers alike

NON-TARIFF BARRIERS OF INDIA

• Ministry of Commerce & Industry notifies Footwear Made from all Rubber and all Polymeric Material and its Components (Quality Control) Order, 2022 and, Footwear Made from Leather and Other Materials (Quality Control) Order, 2022 on 3rd June 2022
• Ministry of Commerce & Industry notifies rescission of Footwear Made from Leather and other materials (Quality Control) Order, 2020 and, Footwear made from all- Rubber & all Polymeric material and its components (Quality Control) Order, 2020

TRADE POLICY

USA

• Certain Carbon and Alloy Steel Cut-To-Length Plate From Italy: Preliminary Results of Antidumping Duty Administrative Review and Preliminary Determination of No Shipments; 2020-2021
• Certain Carbon and Alloy Steel Cut-To-Length Plate From Belgium: Preliminary Results and Partial Rescission of Antidumping Duty Administrative Review; 2020-2021
• Diffusion-Annealed, Nickel-Plated Flat-Rolled Steel Products From Japan: Preliminary Results of Antidumping Duty Administrative Review; 2020-2021
• Certain Iron Construction Castings From Brazil, Canada, and the People’s Republic of China: Continuation of Antidumping and Countervailing Duty Orders
• Large Diameter Welded Pipe From the Republic of Korea: Preliminary Results of Antidumping Duty Administrative Review and Partial Rescission; 2020-2021
• Deputy Secretary Don Graves joins Dutch Semiconductor Equipment Company ASML to Announce $200 Million Semiconductor Investment in Connecticut

CUSTOMS

• The government extends ADD on Styrene Butadiene Rubber imposed vide notification No 43 of 2017 Customs ADD dated 30 August 2017
• The government extends levy of ADD on Jute Products
• The government Extend levy of Anti dumping duty on Toluene Diisocyanate
• All imports of the Saccharin from Thailand into India shall be subjected to provisional assessment till the completion of anti-circumvention investigation
• Consequent to Finance Act, 2022, certain changes in the Customs Tariff Schedule shall take effect from 01.05.2022. Accordingly, after alignment, a new RoDTEP schedule (Appendix 4R) is being notified for implementation with effect from 01.05.2022
• The government exempts the deposits pertaining to all classes of persons and all categories of goods, from the provisions of the section 51A of the Customs Act, 1962
• Tariff value of crude oil, certain gold and silver articles, Areca nuts, etc. amended.
• Ministry of Finance decides not to impose countervailing duty on imports of Aluminium Primary Foundry Alloy Ingot in different forms’ originating in or exported from Malaysia

SANCTIONS AND EXPORT CONTROL

• Russia & China veto new UN North Korea sanctions

USA

• OFAC reaches $255k settlement with Banco Popular de Puerto Rico

EU

• The European Council agreed that the 6th package of EU sanctions will cover crude oil and petroleum products imported from Russia
• €6.7 billion assets had been frozen and €22.8 billion blocked through the enforcement of EU sanctions on Russian and Belarusian
• EU adds 3 to terrorism list & de-lists 3 from Syria sanctions
• The UK and EU have agreed to ban insurance for ships carrying Russian oil

UK

• The UK amended the entries for 278 people and 21 entities on its Russia sanctions list
• OFSI has issued General Licence: “Russia Designated Persons – Charities and Interim Managers and trustees”

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.