Trade Update – October 31, 2022

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
USA (Department of Commerce/International Trade Commission/International Trade Administration)
China	1-Hydroxyethylidene-1, 1- Diphosphonic Acid (HEDP)	CVD, AD	Scheduling of Expedited Five Year Reviews.
China	Stainless Steel Sheet and Strip	CVD, AD	Determined that revocation of the antidumping duty and countervailing duty orders on imports of stainless steel sheet and strip from China would be likely to lead to continuation or recurrence of material injury to an industry in the United States within a reasonably foreseeable time.
India	Stainless Steel Wire Rod	AD	Scheduling of Expedited Five Year Reviews.
China	Certain Freight Rail Couplers and Parts Thereof	AD	Initiation of Countervailing Duty Investigation.
China	Certain Frozen Warmwater Shrimp	AD, CVD	Preliminary Results of Antidumping Duty Administrative Review and Preliminary Determination of No Shipments; 2021–2022.
Spain	Finished Carbon Steel Flanges	AD, CVD	Final Results of Administrative Review; 2020–2021.
Taiwan	Light-Walled Welded Rectangular Carbon Steel Tubing	AD, CVD	Final Results of the Expedited Sunset Review of the Antidumping Duty Order.
China	Uncovered Innerspring Units	AD, CVD	Preliminary Results of Antidumping Duty Administrative Review; 2021– 2022.
China	Certain Freight Rail Couplers and Parts Thereof	AD, CVD	Initiation of Less Than-Fair-Value Investigations.
China	Certain Walk-Behind Lawn Mowers and Parts Thereof	AD, CVD	Initiation of a Circumvention Inquiry on the Antidumping and Countervailing Duty Orders.
South Korea	Certain Superabsorbent Polymers	AD, CVD	Final Determination of Sales at Less Than Fair Value.
Europe, European Commission
Kuwait, Saudi Arabia and USA	Mono Ethylene Glycol (MEG)	AD	Release of Final Findings in the investigation.
Bangladesh and Nepal	Jute Products	AD	Corrigendum Notification.

WTO, FTAs

• India, UK set to revive FTA talks, no new deadline yet
• UK pushes for sharp tariff cuts on scotch whisky under FTA
• India, GCC likely to start FTA negotiations next month
• After a 9-year gap, India-EU free trade negotiations to see a new dawn
• WTO, Caribbean Development Bank strengthen efforts to help small business trade globally

TRADE POLICY

India

• US-India Trade Policy Forum rescheduled to next year
• Government to extend export incentives to trade settled in rupees
• India needs to remove certain taxes impacting exporters, says Finance Minister Nirmala Sitharaman
• Government may shorten FTP term to push trade amid volatility

USA

• Trade takes a back seat to national security in Beijing and Washington
• US, Mexican Trade Chiefs to meet as energy dispute simmers

UK

• Brexit red tape puts brakes on UK innovation and EU sale
• Foreign Secretary James Cleverly travels to India to discuss economic cooperation among other issues

EU

• Biden hits fresh bumps in Plan to smooth EU trade ties
• EU and Japan strengthen economic cooperation through high level dialogue

CUSTOMS

• Extension of date for restriction on export of sugar to 31st October, 2023
• Food Safety and Standards (Food Products Standards and Food Additives) Amendment Regulations, 2021, insertion of table of ‘Enzymes derived from Genetically Modified Microorganism (GMM)’
• Addition of Cashews and related products to APEDAs jurisdiction

SANCTIONS & EXPORT CONTROL

• US DOJ prosecutions reflect aggressive stance toward Russia Sanctions and Export Control evasion
• Hard-drive maker Seagate Tech faces China sanctions warning
• S. Government further targets Nicaragua’s mining and gold sector, and issues expanded executive order with broad trade and investment sanctions
• US Sanctions on China could extend to biotech

 

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