1 / 5

Trade Update – May 23, 2022 - ELPLAW

Check out the trade update of May 23, 2022.<br><br>

elplawfirmindia
Download Presentation

Trade Update – May 23, 2022 - ELPLAW

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 5/30/22, 2:41 PM Trade Update – May 23, 2022 | ELPLAW (https://elplaw.in/) Home (https://elplaw.in/) Trade Update – May 23, 2022 Trade Update – May 23, 2022 May 23, 2022 Author(s) : Parthsarathi Jha (https://elplaw.in/people/parthsarathi-jha) , Sanjay Notani (https://elplaw.in/people/sanjay- notani) , Naghm Ghei, Harleen Sandha, Shruti Agarwal KEY TRADE REMEDIAL UPDATES Product Subject countries Investigation Particulars USA (Department of Commerce/International Trade Commission) Steel Nails India, Sri Lanka, Thailand & Turkey Anti-dumping Duty (AD) investigation Postponement of Preliminary Determinations in the Less-Than-Fair-Value Investigations (https://www.federalregister.gov/documents/2022/05/20/2022- 10934/certain-steel-nails-from-india-sri-lanka-thailand-and-the-republic-of- turkey-postponement-of) Barium Chloride India AD investigation Postponement of Preliminary Determinations in the Less-Than-Fair-Value Investigation (https://www.federalregister.gov/documents/2022/05/20/2022- 10932/barium-chloride-from-india-postponement-of-preliminary- determination-in-the-less-than-fair-value) Seamless Re?ned Copper Pipe China & Mexico Continuation of AD Final determination of likelihood of continuation or recurrence of dumping (https://www.federalregister.gov/documents/2022/05/23/2022- 11003/seamless-re?ned-copper-pipe-and-tube-from-the-peoples-republic- of-china-and-mexico-continuation-of) Freight Rail Coupler Systems and Components China Countervailing Duty (CVD) USDOC issues ?nal a?rmative Countervailing Duty Determination (https://www.federalregister.gov/documents/2022/05/20/2022- 10933/freight-rail-coupler-systems-and-certain-components-thereof-from- the-peoples-republic-of-china-?nal) https://elplaw.in/trade-update-may-23-2022/ 1/5

  2. 5/30/22, 2:41 PM Trade Update – May 23, 2022 | ELPLAW Coated Paper Suitable or High-Quality Print Graphics using Sheet- Fed Presses China and Indonesia AD & CVD USITC issues determination of continuation or recurrence of material injury on revocation of AD & CVD (https://www.usitc.gov/press_room/news_release/2022/er0518ll1938.htm) WTO, FTAs WTO launches a new WTO data portal to provide easy access to key databases offering trade statistics and information on WTO members’ (https://www.wto.org/english/news_e/news22_e/stat_17may22_e.htm) trade-related measures WTO (https://www.wto.org/english/tratop_e/tpr_e/tp525_e.htm) releases Trade Policy Reviews of Switzerland and Liechtenstein Putin (https://www.republicworld.com/world-news/russia-ukraine-crisis/putin-orders-comprehensive-assessment-of- wto-members-actions-against-russia-articleshow.html) Orders ‘comprehensive Assessment’ Of WTO Members’ Actions Against Russia India Unfair (https://economictimes.indiatimes.com/news/economy/foreign-trade/unfair-to-blame-wheat-in?ation-on-export- curbs-india-to-wto/articleshow/91696227.cms) to blame wheat in?ation on export curbs: India to WTO Russia takes ?rst steps to withdraw from WTO, WHO (https://www.politico.eu/article/russia-takes-?rst-steps-to- withdraw-from-wto-who/) EU EU and the Union of Comoros sign deal concluding their bilateral market access negotiations on services and goods as part of Comoros’ (https://ec.europa.eu/newsroom/trade/items/747188/en) accession process to the WTO UK UK kicks off talks on modern trade deal with Mexico (https://www.gov.uk/government/news/uk-kicks-off-talks- on-modern-trade-deal-with-mexico) Joint Statement issued on UK-Colombia trade dialogue (https://www.gov.uk/government/news/joint-statement- on-uk-colombia-trade-dialogue) TRADE POLICY India RBI approves trade transactions between India and Sri Lanka to be settled in Indian rupee outside the Asian Clearing Mechanism (https://www.business-standard.com/article/?nance/rbi-approves-india-sri-lanka-trade- https://elplaw.in/trade-update-may-23-2022/ 2/5

  3. 5/30/22, 2:41 PM Trade Update – May 23, 2022 | ELPLAW settlement-in-rupee-outside-acu-122051901668_1.html) USA S.-EU Trade and Technology Council Establishes Economic and Technology Policies & Initiatives (https://www.commerce.gov/news/fact-sheets/2022/05/fact-sheet-us-eu-trade-and-technology-council- establishes-economic-and) CUSTOMS Ministry of Finance noti?es imposition of Anti-Dumping duty on Polyurethane Leather which includes any kind of textile coated one sided or both sided with Polyurethane imported from People’s Republic of China (https://egazette.nic.in/WriteReadData/2022/235906.pdf) Ministry of Finance noti?es its decision not to accept positive ?nal ?ndings of the DGTR in its Sunset Review of anti-dumping investigation on imports of Elastomeric Filament Yarn from China PR, South Korea, Taiwan and Vietnam (https://www.dgtr.gov.in/sites/default/?les/TRU%20OM%20EFY%20FF%20reg%20dated%2018-05- 22.pdf) Amendment in Export Policy of Bamboo Charcoal, Bamboo obtained from legal source is allowed Freely subject to certain policy conditions. (https://egazette.nic.in/WriteReadData/2022/235883.pdf) Amendment in import policy condition of Fresh Ginger under Chapter 09 of the ITC (HS) 2022, Schedule I (Import Policy). (https://egazette.nic.in/WriteReadData/2022/235885.pdf) The last date for submission of online applications for allocation of Tariff Rate Quota (TRQ) under India–UAE CEPA ?rst two quarters of FY 2022-23 (01 May 2022 to 30 Sep 2022) has been extended till 31.05.2022 (https://egazette.nic.in/WriteReadData/2022/235892.pdf) Enlistment of an Agency and amendment in details of an authorized agency under Appendix 2E of FTP, 2015 2020 authorized to issue Certi?cate (https://egazette.nic.in/WriteReadData/2022/235938.pdf) of Origin (Non preferential) Certain amendments to product speci?c rules provided under Customs Tariff (Determination of Origin of Goods under the Comprehensive Economic Partnership Agreement between the Republic of India and Japan) Amendment Rules, 2022 (https://egazette.nic.in/WriteReadData/2022/235905.pdf) Ministry (https://egazette.nic.in/WriteReadData/2022/235956.pdf) of Finance has reduced Road and Infrastructure Cess on petrol and diesel Amendments to Second Schedule to the Customs Tariff Act, 1975 and to various Noti?cation (https://egazette.nic.in/WriteReadData/2022/235957.pdf) Centre Waives Import Duty on Some (https://www.news18.com/news/business/centre-waives-import-duty-on-some-raw-materials-for-steel- industry-5223211.html) Raw Materials for Steel Industry Plastics, cement and steel prices to ease (https://www.?nancialexpress.com/economy/plastics-cement-and- steel-prices-to-ease/2533365/) Centre hikes the duty on exports of iron ore up to 50 per cent, and a few steel intermediaries to 15 per cent (https://www.business-standard.com/article/economy-policy/centre-waives-import-duty-on-some-raw-materials- for-steel-industry-122052100895_1.html) SANCTIONS AND EXPORT CONTROL https://elplaw.in/trade-update-may-23-2022/ 3/5

  4. 5/30/22, 2:41 PM Trade Update – May 23, 2022 | ELPLAW G7 Foreign Ministers released a statement on Russia sanctions stating that sanctions will not target essential exports of food and agricultural inputs to developing countries and include measures to avoid negative consequences for the production and distribution of food. (https://www.europeansanctions.com/2022/05/g7- foreign-ministers-statement-on-russia-sanctions/) USA OFAC (https://www.europeansanctions.com/2022/05/ofac-lists-isis-?nancial-facilitators-issues-syria-gl/) designated alleged ISIS ?nancial facilitators and issued Syria General Licence EU EU Court of Justice dismissed an appeal against the Democratic Republic of the Congo-Related Sanctions (https://www.europeansanctions.com/2022/05/ecj-dismisses-drc-sanctions-appeal-2/) European Commission has updated its Russia sanctions-related FAQs on deposits, trading, public procurement, state-owned enterprises, customs and access to EU ports. (https://www.europeansanctions.com/2022/05/eu- commission-updates-russia-sanctions-faqs-2/) EU (https://www.europeansanctions.com/2022/05/eu-court-upholds-amer-fozs-syria-sanctions-listing-over-links-to- brother/) Court upholds Amer Foz’s Syria sanctions listing over links to brother UK OFSI (https://www.europeansanctions.com/2022/05/ofsi-issues-amends-russian-gls/) has issued and amended certain General Licence related to Russia Yousef Ismail was removed from the UK’s Syria sanctions list (https://www.europeansanctions.com/2022/05/uk- de-lists-1-from-syria-sanctions/) UK (https://www.europeansanctions.com/2022/05/uk-lists-aero?ot-ural-airlines-rossiya-airlines/) designated 3 Russian airlines under its Russia sanctions regime UK guarantee up to $50 million ?nancing to Ukraine to continue electricity provision during latest G7 meeting (https://www.gov.uk/government/news/chancellor-sets-out-further-economic-support-for-ukraine-at-g7-meeting- in-bonn) UK (https://www.europeansanctions.com/2022/05/uk-enhances-military-end-use-controls-restrictions-on-china- exports/) enhances military end-use controls & restrictions on China exports 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. https://elplaw.in/trade-update-may-23-2022/ 4/5

  5. 5/30/22, 2:41 PM Trade Update – May 23, 2022 | ELPLAW Privacy Policy (https://elplaw.in/privacy-policy/) Terms Of Use (https://elplaw.in/terms-of-use/) Disclaimer (https://elplaw.in/disclaimer/) Sitemap (https://elplaw.in/sitemap/) (https://www.facebook.com/elplaw.in) (https://www.twitter.com/ELPIndia) (https://www.linkedin.com/company/economic-laws-practice) COPYRIGHT © 2018 ECONOMIC LAWS PRACTICE https://elplaw.in/trade-update-may-23-2022/ 5/5

More Related