Trade Update – October 16, 2023

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
USA (Department of Commerce)
China PR	Certain Carbon Steel Butt-Weld Pipe Fittings	AD	Notification of final determination of covered merchandise inquiry.
China PR	Certain Corrosion Inhibitors	AD	Notification of final results of antidumping duty administrative review.
Mexico	Emulsion Styrene-Butadiene Rubber	AD	Notification of preliminary results of antidumping duty administrative review, preliminary determination of no shipments, and notice of intent to rescind.
Mexico	Fresh Tomatoes	AD	Notification of preliminary results of agreement suspending the antidumping duty investigation.
India	Certain New Pneumatic Off-the-Road Tires	AD	Notification of final results of antidumping duty administrative review.
Brazil	Certain Uncoated Paper	AD	Notification of final results of antidumping duty administrative review.
China PR	Difluoromethane	AD	Notification of final results of antidumping duty administrative review and partial rescission.
EU (European Commission)
China PR	Tableware and kitchenware (ceramic)	AD	Notification of request for new exporting producer treatment.
China PR	Electrolytic manganese dioxides (certain)	AD	Notification of imposing a provisional anti-dumping duty.

WTO, FTAs

• Israeli-Hamas war will have really big impact on global trade – WTO DG warns.
• WTO members hold talks with stakeholders on extending TRIPS decision to COVID-19 therapeutics, diagnostics.
• Members complete sixth Fish Week this year of fisheries subsidies negotiations.
• International celebrities rally for WTO agreement on fisheries subsidies in a new film.
• WTO DG urges members to engage on cotton for potential outcome at MC13.
• DG Okonjo-Iweala calls for enhanced efforts to boost access to trade finance.
• Korea, UAE strike bilateral free trade agreement.
• India, Peru set to resume discussion on trade agreement.
• India, UK may ink FTA by the end of this month.

TRADE POLICY

UK

• Germany invites UK to reach improved Brexit trading deal.
• Electric cars will cost drivers £6,000 more if the UK fails to get Brexit deal with EU.

Europe

• EU foreign policy chief urges China not to supply arms to Russia.
• S. and EU struggle to form Green Steel Club.
• FSR’s notification system in effect since 12 October 2023.
• EU warns China that European public could turn more protectionist if trade deficit isn’t reduced.
• S. scales back hopes for ambitious climate trade deal with Europe.

USA

• China’s Commerce Minister urges fairer Sino-US trade.

India

• India trade data: India’s September trade deficit narrows to $19.37 bn; imports slide 15%, exports dip 2.6%.
• India mulls partnerships to make semiconductor chips.
• Indo-European Business Forum celebrates sustainability partnerships in UK.
• India reverses decision on laptop import restrictions.
• India’s trade deficit narrows in September as exports hit triumphant stride.
• India, Tanzania discuss trade in local currencies.
• IT minister Ashwini Vaishnaw said that India’s First Semiconductor Fabrication Plant is expected within a year.
• Notification of Green Credit Rules, 2023.

CUSTOMS

• Notification of imposing bilateral safeguard duty on imports of ferro molybdenum from Korea RP.
• Notification of continuation of anti-dumping duty on flax yarn.
• Notification of a draft QCO on Rubber and Thermoplastic Hoses at the WTO.
• Notification of a draft QCO on Rubber Flooring Materials at the WTO.
• Notification of amendment in the tariff value of imported goods falling under the First Schedule to the Customs Tariff Act, 1975.
• Notification of amendment in the date of entry of force of revised duty rate for rice.
• Para 4.10 (i) of the Handbook of Procedures 2023 has been amended to permit availment of Input Tax Credit on GST paid material, in respect of Advance Authorization Scheme.

SANCTIONS

• MAPIM calls on Muslim countries to impose total sanctions on Israel.
• US sanctions two oil tanker owners for violating Russian price cap.
• US refuses to rule out tougher Iran sanctions following Hamas attack.
• China saves billions of dollars from record sanctioned oil imports.
• US tackles loopholes in curbs on AI chip exports to China.
• US extends China chip waiver for Taiwan’s TSMC (Taiwan Semiconductor Manufacturing Company).

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.