Trade Update – March 27, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
India (Directorate General of Trade Remedies)
People’s Republic of China	Flat Base Steel Wheels	AD	Initiation of sunset review of anti-dumping duties on imports of Flat Base Steel Wheels from China PR.
USA (Department of Commerce/International Trade Commission/International Trade Administration)
Republic of India	Paper File Folders	CVD	Preliminary finding that countervailable subsidies are being provided to producers and exporters of Paper File Folders from India for the period of investigation (POI) i.e., January 1, 2021, through December 31, 2021.

WTO, FTAs

• Korea withdraws WTO dispute complaint regarding Japanese export measures.
• Members exchange information on regulatory and legal frameworks on e-commerce.
• Amid recent slowdown in global trade, ‘green goods’ are the winning ticket.
• UK and EU to formally adopt the Windsor Framework.
• India, EU conclude another round of talks for proposed trade agreement.

TRADE POLICY
 European Union

• Soy traders face stricter EU laws on environment.
• S. eyeing ways to include Europe in electric car tax breaks under its Inflation Reduction Act.

USA

• S. manufacturers say ‘no’ to more WTO IP waivers as the deadline for IP waivers for therapeutics and diagnostics is missed by WTO Members.
• US seeks exemption from EU Carbon Border Levy.
• US is ready to escalate Mexico energy dispute.
• During trade talks with Japan, a U.S. senator called out PlayStation’s ‘monopoly,’ defending Xbox.
• China opposes US’ reported action on TikTok.
• US’s Section 301 tariffs on Chinese imports to remain in place.

India

• India, UAE mull options to curb foreign exchange rate risks on rupee trade.
• India to focus on 4 priority areas in first G20 trade, investment meet.

SANCTIONS

• Ursula Von Der Leyen says new sanctions on Russia will address question of ‘circumvention’.

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