Trade Update – May 16, 2022

KEY TRADE REMEDIAL UPDATES

Product		Subject countries	Investigation	Particulars
DGTR (Directorate General of Trade Remedies)
Textured Tempered Coated and Uncoated Glass		China	Anti-dumping Duty (AD) Sunset Review (SSR)	DGTR issues positive final findings
USA (Department of Commerce/International Tarde Commission)
Organic Soybean Meal	India		AD & Countervailing duty (CVD)	UDSOC issues final affirmative determination of existence of dumping and countervailable subsidies
Welded Stainless Pressure Pipe	India		Continuation of AD & CVD	Final determination of continuation or recurrence of dumping and countervailable subsidies
Raw Honey	Argentina, Brazil, India & Vietnam		AD	Injury determination by USITC of sales at less than fair value
Heavy Forged Hand Tools	China		AD SSR	Injury determination by USITC on likelihood of continuation or recurrence of material injury
Oil Country Tubular Goods	Argentina, Russia & Mexico		AD	Preliminary Affirmative Determinations of Sales at Less Than Fair Value: Argentina, Russia & Mexico

WTO, FTAs

• WTO members welcome Quad (European Union, India, South Africa and the United States) document as basis for text-based negotiations on pandemic Intellectual Property response
• WTO members to hold negotiations on 16-20 May, to resolve remaining issues for a global deal to curb harmful fishing subsidies ahead of the 12th Ministerial Conference (MC12) next month

India

• India seeks WTO waiver to sell subsidised foodgrains in world market claiming that WTO’s priority must be to revive world economy
• India, Oman agree to have joint feasibility study on limited trade deal
• New UK India Industry Taskforce, a joint commission to increase cross-industry collaboration and push the UK-India Free Trade Agreement (FTA), has been launched
• India, Canada look to expedite FTA negotiations

UK

• Trade deal with Australia helps Northern Ireland manufacturer secure landmark deal to sell zero-emission buses in Australia
• UK introduces a new bill to enable implementation of Australia and New Zealand trade deals
• Joint outcome statement on India-UK round three FTA negotiations issued

 

NON-TARRIF BARRIERS IN INDIA

• Ministry of Chemicals & Fertilizers notifies, on 13 May 2022, amendments in Quality Control Orders for Methylene Chloride (Dichloromethane), Ortho Phosphoric Acid and Polyphosphoric Acid
• Ministry of Chemicals & Fertilizers notifies fixing of retail prices of certain specified drug formulations by the National Pharmaceutical Pricing Authority

TRADE POLICY

EU

• Prior information notice – Supply and Update for Third Country Datasets and Updating Service for the EC’s Access2Market Website – TRADE/2022/OP/0002-PIN

UK

• UK Prime Minister signs new assurances to bolster European security: 11 May 2022

CUSTOMS

• Central Government revokes the anti-dumping duty imposed on ‘Amoxycillin’ also known as ‘Amoxycillin Trihydrate’.
• Amendment to tariff values of certain items like gold, silver etc.
• Amendment to the export policy of wheat from Free to Prohibited
• Amendment to the export policy of onion seeds from Prohibited to Restricted.
• Alignment of Appendix 4R with the Finance Act, 2021 with effect from 01.01.2022
• Export of Guar Gum to European Union and UK will now be allowed subject to issuance of Official Certificate in place of Health Certificate

SANCTIONS AND EXPORT CONTROL

• G7 commits to phasing out Russian oil & other measures

 USA

• US imposes additional Russia targeted & sectoral sanctions
• US adopts Russia services export ban & license restrictions on industrial products
• OFAC issues 4 Russia-related General Licenses & Nuclear Regulatory Commission to suspend Russia nuclear General Licenses

EU

• EU removes Russia as a destination for general export authorizations which permitted re-export of items after repair or replacement in the EU; export of items for fairs or exhibitions and exports of telecommunications equipment.
• EU to ban the import of Russian oil in 6th sanctions package

UK

• The UK designated steel manufacturing and mining company, Evraz plc, under its Russia sanctions regime.
• The UK imposes new trade sanctions on Russia and Belarus
• 12 people who are part of Russian President Putin’s personal and financial “inner circle” have been designated by the UK pursuant to its Russia sanctions regime. 

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.