Trade Update – October 17, 2022

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
USA (Department of Commerce/International Trade Commission/International Trade Administration)
China	Certain Amorphous Silica Fabric	AD, CVD	Continuation of Antidumping and Countervailing Duty Orders.
Canada	Certain Softwood Lumber Products	CVD	Notice of Amended Final Results of Countervailing Duty Administrative Review; 2020.
China	Wooden Bedroom Furniture	AD	Preliminary Results of Antidumping Duty Administrative Review; Rescission, in Part; and Preliminary Determination of No Shipments; 2021.
South Korea	Carbon and Alloy Steel Cut-to-Length Plate	AD	Final Results of Antidumping Duty Administrative Review; 2020–2021.
China	Certain Artist Canvas	AD	Continuation of Antidumping Duty Order.
China	Certain Biaxial Integral Geogrid Products	AD, CVD	Continuation of Antidumping Duty Order and Countervailing Duty Order.
United Arab Emirates	Certain Steel Nails	AD	Final Results of Antidumping Duty Administrative Review; 2020–2021.
China	Certain Magnesia Carbon Bricks	AD	Final Results of Antidumping Duty Administrative Review; 2020–2021.
Directorate General of Trade Remedies
China and Thailand	Grinding Media Balls excluding Forged Grinding Media Ball	AD	Corrigendum notification.
Various Countries	PVC Suspension resins with residual VCM above 2 PPM	Safeguards	Initiation of safeguards investigation.

 

WTO, FTAs

• India-UK free trade agreement: Diwali deadline no longer valid, negotiations still on
• Biggest India trade deal with the UK stuck on free access to skilled workers
• Members discuss extending MC12 TRIPS decision to COVID-19 diagnostics and therapeutics
• WTO, IFC launch joint publication on trade finance in West Africa
• Progress of India-Australia free trade pact toward ratification encouraging
• WTO members discuss implementation of Information Technology Agreement, new IT development
• Ecuador makes progress in FTA negotiations with Costa Rica
• Brazil seeks to join agreement on trade in civil aircraft

TRADE POLICY

India

• U.S.- India Trade Policy Forum set for November 8
• India pushes for settlement of international trade in rupee with Sudan
• India-UAE exploring mechanism to carry out bilateral trade in national currency

USA

• Biden’s ‘Made in America’ policies anger key allies
• Biden administration introduces new export rules to limit Chinese supply of semiconductors

UK

• Release of Joint Statement of Third Annual UK-Chile Trade Dialogue

EU

• US Justice Department, Federal Trade Commission and European Commission hold second U.S.- EU Joint Technology Competition Policy Dialogue
• European Parliament back new trade instrument to protect the EU from economic blackmail

CUSTOMS

• The Bureau of Indian Standards notified the establishment and withdrawal of certain Indian Standard relating to various chemicals, ceramic products etc.
• Amendment in Export Policy of items under HS Code 1101
• Amendment in the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20 to notify the procedure for General Authorisation for Export after repair in India (GAER)
• Amendments to the Indian Standards w.r.t Plain Copier Paper, Ethylene Glycol etc.
• The Bureau of India Standards notifies withdrawal of certain Indian Standards relating to products like specifications for Dental Engine, Electric, Zinc Phosphate Dental cement etc.
• Establishment of export Quota of only broken rice (HS Code 1006 40 00) for the year 2022-23
• Amendment in Standard Input Output Norms (SION) of ‘Chemical & Allied Product’ (Product Code ‘A’): Suspension of A254, A257, A282, A1939, A1973, A2061, A2331, A2539, A2818, A3056 and A348 SIONs.
• Amendments to Food Safety and Standards (Approval for Non-Specified Food and Food Ingredients) Regulations, 2017
• Amendments to the import policy conditions for item under HS code 07019000 of Chapter 07 of ITC (HS), 2022, Schedule –I (Import Policy).

SANCTIONS & EXPORT CONTROL

• U.S. ‘willing’ to impose sanctions on nations giving ammunition to Russia
• US expands restrictions on chip export to China and revises sanction rules

 

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