Trade Update – November 27, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
USA (Department of Commerce)
China	Aluminum Foil	AD/CVD	Final results determining circumvention of antidumping and countervailing duties.
India	New Pneumatic Off-the-Road Tires	CVD	Corrigendum notification for final administrative review results.
India	Carbazole Violet Pigment 23	AD	Preliminary results determining dumping margins in new shipper review.
Taiwan	Forged Steel Fittings	AD	Final results of administrative review determining no dumping.
India	Polyethylene Terephthalate Film, Sheet, and Strip	AD	Preliminary results partially rescinding duties and exclusion of certain companies from administrative review.
India	Frozen Warmwater Shrimp	AD	Partial exclusion of certain companies from review.
India	Cold-Drawn Mechanical Tubing of Carbon and Alloy Steel	AD	Final results of administrative review determining dumping.
Ecuador, India, Indonesia and Vietnam	Frozen Warmwater Shrimp	CVD	Initiation of countervailing duty investigations.
China	Non-Refillable Steel Cylinders	AD/CVD	Final results determining circumvention of antidumping and countervailing duties.
European Union (European Commission)
China	Erythritol	AD	Initiation of antidumping proceedings.

WTO, FTAs

• WTO Committee on Rules of Origin report highlights committee work on preferential rules of origin for least developed countries.
• Committee on Market Access holds first thematic session on supply chain resilience.
• EU donates EUR 1 million to WTO Fisheries Funding Mechanism.
• Plastics Pollution Dialogue makes further headway on draft MC13 statement.
• Liechtenstein donates CHF 40,000 to WTO Fisheries Funding Mechanism.
• Uruguay and China agree to pursue bilateral trade pact as well as a deal with MERCOSUR.
• EU Parliament approves EU-New Zealand free trade agreement.

TRADE POLICY

EU

• EU report on GSP concludes that access to EU market boosts sustainable growth in low-income countries.
• EU and Canada renew more comprehensive green alliance agreement.
• EU, Chile aim to sign trade deal next month with a focus on minerals.
• China to boost talks, cooperation with Europe after ties with US stabilize.
• EU updates its Foreign Subsidies Regulation guidance on procedural and jurisdictional issues.

UK

• International Chamber of Commerce UK launches major report on benefits of digitalisation of trade.
• President of the Republic of Korea addresses UK Parliament.
• UK unveils white paper to set approach to global development.
• UK’s entry into CPTPP expected to provide lesser benefits to UK GDP than expected.

USA

• Philippines and US sign nuclear co-operation agreement.
• US extends exemption from standard compliance to Pakistan exports of fish and fish products.

India

• India-China trade data discrepancy rises to $15 billion in January-October this year.
• Finland and India discuss hydrogen electrolyzer production in India.
• Industry report suggests that new FTAs, lower cost of power and logistics to help boost exports.
• India and Australia start discussions for furthering bilateral ties in various areas of trade, following FTA.
• India expected to allow export of broken rice to Mali.
• India, EU sign semiconductor pact to help build a robust supply chain.

CUSTOMS

• Notification of an amendment in import policy condition of Gold.
• India imposes a minimum export price on export of onions.
• Notification continuing antidumping duties on Synthetic Grade Zeolite 4A (Detergent Grade).
• Notification modifying antidumping duties on Natural mica-based pearl industrial pigments excluding cosmetic grade.
• Notification of a quality control order (QCO) on material measures of length.
• Notification of a QCO on steel wires or strands, nylon or wire ropes and wire mesh.

SANCTIONS

• US Treasury announces largest settlements in history with virtual currency exchange Binance for violations of U.S. anti-money laundering and sanctions laws.
• Swedish lawmakers call on EEU to sanction sale of spy tech to Iran.
• UAE enforces stricter rules on Russian firms in clamp down on sanctions evasion.
• Palestinian FM calls on international community to impose sanctions on settler militias.

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.