Trade Update – November 14, 2022

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
USA (Department of Commerce/International Trade Commission/International Trade Administration)
China	Carbon and Alloy Steel Threaded Rod	CVD	Final Results of Administrative Review of Countervailing Duty Order on imports of Carbon and Alloy Steel Threaded Rod   from China PR.
India	Paper File Folders	CVD	Initiation of Countervailing Duty Investigation concerning imports of Paper File Folders from India.
India, China and Vietnam	Paper File Folders	AD	Initiation of Less-Than-Fair Value concerning imports of Paper File Folders from India.
India	Certain Frozen Warmwater Shrimp	AD	Notice of Initiation and Preliminary Results of Antidumping Duty Changed Circumstances Review in the Anti-Dumping Investigation concerning imports of Certain Frozen Warmwater Shrimp from India.
Australia	Certain Uncoated Paper	AD	Negative Final Determination of Circumvention of the Antidumping Duty Order for Certain Uncoated Paper Rolls from Australia.
India	Glycine	AD	Final Results of Administrative Review of Anti-Dumping Duty Order on imports of Glycine   from India.
China	Certain Activated Carbon	AD	Final Results of Administrative Review of Anti-Dumping Duty Order on imports of Certain Activated Carbon from China.
Directorate General of Trade Remedies
China, Thailand, Vietnam	Solar Cells whether or not assembled into Modules or Panels	AD	Termination of Anti-Dumping Investigation concerning imports of Solar Cells whether or not assembled into Modules or Panels from China, Thailand, Vietnam.
European Commission
China	Iron or Steel Fasteners	AD	Initiation of new exporting producer treatment review.
United Kingdom (Trade Remedies Authority)
China	Wire Rod	AD	Final Determination issued in the Transition Review of anti-dumping measures applying to certain Wire Rod products originating in the People’s Republic of China.
United States and Canada	Biodiesel	AD	Final Determination issued in Transition review of anti-dumping measures applying to biodiesel originating in the United States of America and consigned from Canada.
United States and Canada	Biodiesel	CVD	Final Determination issued in Transition review of countervailing duties applying to biodiesel originating in the United States of America and consigned from Canada.

WTO, FTAs

• WTO urges countries to lift green trade barriers
• WTOs fisheries funding mechanism now operational to assist developing countries and LDCs.
• WHO, WIPO, WTO to hold technical symposium on response, preparedness to future pandemics.
• Members hold informal talks on WTO reform in spirit to deliver meaningful trade reforms.
• WTO joins call for greener markets and trade logistics to promote low-carbon transition at COP 27 climate summit.
• India-UK FTA: British officials likely to visit India; close trade deal by March.
• India-EU trade pact: Next round of talks from November-end

TRADE POLICY

India

• About 2,500 global exhibitors to take part in India International Trade Fair (IITF) from November 14-27
• Piyush Goyal asks exporters make temporary price adjustments to retain export market share
• India, Russia vow to expand economic cooperation, including energy sector by the end of this year
• India allows cross-border trade settlements in rupees for export promotion schemes
• Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation held between India and Belarus  
• India’s exports would register annual growth rate of 10-12% despite external headwinds: Piyush Goyal
• PM Modi highlights importance of Vishakhapatnam in Indian trade sector
• During official trip to India, US Treasury chief Janet Yellen pitches for a global trade route away from China

USA

• United States and Taiwan conclude two days of productive meetings under the U.S.-Taiwan Initiative On 21st-Century Trade
• US, Ukraine in talks for increasing bilateral trade and investment.

UK

• UK Export Finance launches new debt solution to help developing countries with climate shocks
• Second ASEAN Economic Ministers-UK Consultation held, calls for results through greater cooperation

EU

• As EU sanctions hit Moscow’s trade, China becomes top exporter

CUSTOMS

• Policy implementation of Coal Import Monitoring System’s (CIMS) condition on registration application made by the importer has been revised by the Central Government.
• Central Government makes amendments in the Foreign Trade Policy 2015-20 to permit exports benefits/ fulfilment of Export Obligations for Invoicing, payment and settlement of exports and imports in INR, as per RBI’s A.P. (DIR Series) Circular.
• DGFT amends Export Policy of broken rice effecting clearance to such rice consignments held up in the Container Freight Station (CFS) made prior to the amendment.

SANCTIONS & EXPORT CONTROL

• Further sanctions imposed against Russia by UK, effective from December 2022
• UK sanctions on Russia top £18 billion for the first time

 

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