Trade Update – September 26, 2022

KEY TRADE REMEDIAL UPDATES

Subject countries	Product	Investigation	Particulars
USA (Department of Commerce/International Trade Commission/International Trade Administration)
Japan	Diffusion-Annealed, Nickel-Plated Flat-Rolled Steel Products	AD	Final Results of Administrative Review of Anti-Dumping Duty Order on Diffusion-Annealed, Nickel-Plated Flat-Rolled Steel Products from Japan
Ukraine	Oil Country Tubular Goods	AD	Preliminary Results of Administrative Review  of Anti-Dumping Duty Order on Oil Country Tubular Goods from Ukraine
Russia	Urea Ammonium Nitrate Solutions and Emulsion Stryene-Butadine Rubber	AD	Notification of the termination of the changed circumstances review (CCR) under the antidumping duty (AD) investigation of urea ammonium nitrate solutions (UAN) from the Russian Federation
DGTR (Directorate General of Trade Remedies)
China	Stainless-Steel Seamless Tubes and Pipes	AD	Final Findings in the anti-dumping investigation concerning imports of Stainless-Steel Seamless Tubes and Pipes from China PR.
China	Toluene Di-Isocyanate	AD	Extension of anti-dumping duty on imports of Toluene Di-Isocyanate from China pursuant to a sunset review

WTO, FTAs

• India, UK stick to Diwali deadline for FTA
• New Foreign Trade policy may pitch for FTA with US over five years
• Items proposed for consideration at the next meeting of the Dispute Settlement Body
• Members agree next steps on trade and gender work post MC12
• Members consider five regional trade agreements
• Agency heads call for urgent action to address global food security crisis

 

TRADE POLICY

India

• Post FTA, non-petroleum exports to UAE up 14% in June-August
• India’s new logistics policy will accelerate growth, increase its participation in global trade
• Indian Defence exports up 334% in last 5 years, now exporting to 75 nations
• Piyush Goyal meets Singapore minister, discusses bilateral cooperation
• India, Israel, UAE, US express commitment to deepen economic partnership

USA

• S. decides against national security tariffs on rare earth magnets from China, Japan, EU
• Release of Joint Media Statement for USA-ASEAN Talks

Europe

• EU and US hold first Trade and Labour Dialogue
• Release of the Annual Report on EU’s Trade Defence Activities

UK

• Under the UK-EEA EFTA Joint Committee, Britain negotiates price caps on for using data and making calls and texts in Norway and Iceland.

 

CUSTOMS

• Relaxation in provision of submission of ‘Bill of Export’ as an evidence of export obligation discharge for supplies made to SEZ units in case of EPCG Authorization
• Release of Clarification regarding Non-Ferrous Metal Import Monitoring System (NFMIMS)

 

SANCTIONS & EXPORT CONTROL

• EU eyes oil price cap, more high-tech export curbs in a new round of sanctions against Russia
• Japan approves new sanctions package against Moscow

 

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