Trade Update – March 13, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
India (Directorate General of Trade Remedies)
Canada, China, Germany, Netherlands, South Korea, Taiwan, Turkey, and United Kingdom	Tin Mill Products	AD/CVD	Determination that an industry in the United States is materially injured by reason of imports of Tin Mill products from Canada, China, Germany, Netherlands, South Korea, Taiwan, Turkey and United Kingdom, which are alleged to be sold in the United States at less than fair value, and are subsidized by the Government of China.
India	Stainless-Steel Bar	AD	Preliminary results of the administrative review of the anti-dumping duty order on imports of Stainless-Steel Bars from India.
India	Stainless-Steel Flanges	AD	Final results of administrative review of the anti-dumping duty order on imports of Stainless-Steel Flanges from India.
India	Barium Chloride	CVD	Countervailing duty order imposing a countervailing duty on imports of Barium Chloride from India into the United States.
India	Certain Cold-Drawn Mechanical Tubing of Carbon and Alloy Steel	CVD	Preliminary results of the administrative review of countervailing duty order on imports of Certain Cold-Drawn Mechanical Tubing of Carbon and Alloy Steel  from India.

WTO, FTAs

• WTO organized “Trade Forum for Decarbonization Standards: Promoting transparency and coherence in the iron and steel sector”.
• The EU and Britain agree on a new trade deal for Northern Ireland.
• The EU and the US announce collaboration on climate change, including on US’ Inflation Reduction Act and EU Green Deal Industrial Plan.
• India and Australia are looking to conclude the Phase 2 of FTA negotiations within 2023.

TRADE POLICY

 European Union

• EU companies ‘loosen’ rules for green subsidies to combat the effects of US’ Inflation Reduction Act, and retain important projects in Europe.

USA

• The US demands formal talks with Mexico over GMO corn dispute.
• Higher standards for “Product of USA” meat proposed by Biden administration.

India

• India and Russia hold high level meeting to push investment and trade ties including market access issues.
• Extension of enforcement dates if ABS, Polycarbonate, VCM and Ethylene Dichloride.

UK

• The Government concludes a review of the UK’s trade remedies regime which was initiated in June 2021.

SANCTIONS

• The EU and the US engage with diamond industry to find ways to disrupt Russian diamond revenues.
• Dutch to restrict semiconductor tech exports to China, joining US effort.
• EU court annuls sanctions against mother of Putin ally, in rare decision.
• Putin says Russian financial sector overcame sanctions-related hurdles.
• US designates six entities for violating Iran sanctions.
• India and the US are likely to ink an MoU on the exports of semiconductors.
• Pakistani companies put on US trade blacklist for involvement in missile and nuclear activities.

 

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