Trade Update – May 30, 2022

KEY TRADE REMEDIAL UPDATES

Product		Subject countries	Investigation	Particulars
USA (Department of Commerce/International Trade Commission)
Freight Rail Coupler Systems	China		Anti-dumping Duty (AD) investigation	UDOC issues a final affirmative determination of Sales at Less-Than-Fair Value
Hot-Rolled Steel Flat Products	Japan		AD investigation	USDOC issues final determination of sales below normal value
New Pneumatic Off-the-Road Tires	India		Countervailing Duty (CVD) Sunset Review (SSR) investigation	USDOC issues final determination of continuation or recurrence of countervailable subsidies

WTO, FTAs

• A new study looks at the challenges and opportunities of LDCs’ accession to the WTO
• Plastics dialogue discusses MC12 plans, next steps to implement Ministerial Statement
• Items proposed for consideration at the next meeting of the Dispute Settlement Body

India

• Indian officer Anwar Hussain Shaik is the new chair of the WTO Committee on Technical Barriers on Trade
• India is fast-tracking FTAs with UK, and EU: Anupriya Patel
• India-Canada second round free-trade agreement talks start next week
• India-UK free trade agreement (FTA) could be ready by Diwali: Piyush Goyal
• India joins Biden’s new trade initiative for Indo-Pacific – Indo-Pacific Economic Framework for Prosperity (IPEF), negotiations to begin

UK

• The UK marks a milestone in trade relations with the US by signing its first state-level Memorandum of Understanding (MoU) with Indiana

TRADE POLICY

India

• Indian government launches Indian Business Portal to help startups, SMEs, Artisans, and Farmers reach global export markets

UK

• The governments of the UK and Lithuania have signed a Joint Declaration in London on 100 years of bilateral relations
• The United Kingdom and Uruguay reaffirm their strong relationship
• Increasing UK–Kenya trade and investment in the horticulture sector
• UK and Vietnam hold talks as trade increases by almost 11%

USA

• S. Secretary of Commerce Gina Raimondo and U.S. Trade Representative Katherine Tai hosted a virtual meeting of the Ministers from the Indo-Pacific Economic Framework for Prosperity (IPEF) to build on the momentum of the launch of the Framework by President Biden and discuss the next steps with IPEF partners

CUSTOMS

India

• The central government provided a global Tariff Rate Quota (TRQ) of 20 LMT per FY to Crude Sunflower Oil and Crude Soyabean Oil for 2 years exempting from the whole of Basic Customs Duty and Agriculture Infrastructure and Development Cess
• The central government notifies the provisions for allocation of Tariff Rate Quota (TRQ) for 20 Lakh MT of Crude Soya-bean oil and 20 Lakh MT of Crude Sunflower seed oil for FY 2022-23 and 2023-24
• Amendment in import policy of Oxytocin: Import of Oxytocin shall remain “Prohibited”. However, import of Oxytocin reference standards falling under HS Codes 29371900, 29372900, 29379019, 29379090, and all HS Codes at an 8-digit level under 3004 is permitted exclusively for the purpose of test and analysis subject to submission of Test License issued by the DGCI / CDCSO
• Amendment in export policy of Sugar (Raw, Refined and White sugar): With effect from 1 June 2022 up to 31 October 2022 or until further order, whichever is earlier, Sugar (except the fixed quantity of sugar being exported under CXL and TRQ quota to EU and USA) will be “Restricted”
• Amendment in import policy of Paper from ‘Free’ to ‘Free subject to compulsory registration under Paper Import Monitoring System (PIMS)’; and incorporation of policy condition in Chapter 48 of ITC HS 2022 Schedule I Import Policy
• Amendment of the anti-dumping duty imposed on import of ‘Décor Paper’ from the People’s Republic of China
• Ministry of Finance imposes anti-dumping duty on the import of Ceramic Tableware and Kitchenware, excluding knives and toilet items when imported from the People’s Republic of China
• Ministry of Finance decides not to impose anti-dumping duty on Melamine imported from the EU, Japan, Qatar, and UAE
• Ministry of Finance decides not to impose anti-dumping duty on imports of Plastic Processing Machines originating in or exported from China PR
• Ministry of Finance decides not to extend anti-dumping duty on Clear Float Glass originating in or exported from Iran

SANCTIONS AND EXPORT CONTROL

• Alena Douhan, the UN Special Rapporteur, calls for the lifting of unilateral sanctions on Iran

USA

• The Russian Ministry of Foreign Affairs has released an updated list of 963 US citizens who are subject to travel bans in response to US “anti-Russian sanctions”
• OFAC has confirmed that it will not renew the provisions of the Russia-related General Licence
• OFAC designated Ahmad Jalal Reda Abdallah, a Lebanese national pursuant to an Executive Order 13224 as amended, for acting or purporting to act for or on behalf of, directly or indirectly, Hizballah
• The US Bureau of Industry and Security has issued a Temporary Denial Order (TDO) denying the export privileges of Rossiya Airlines for 180 days from 20 May 2022

EU

• The European Commission has updated its Russia sanctions-related FAQs on central securities depositories, circumvention, and due diligence, assets freeze, deposits, public procurement, access to EU ports, and sale of securities
• EU Commission proposes to criminalize sanctions violations & strengthen asset recovery & confiscation powers

UK

• The UK issues General License for travel with listed Russian airlines & Russian railways
• 154 members of the House of Lords of the British Parliament have been banned from 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.