Given below are some key news updates from the past week pertaining to international trade and customs both from India and around the world.
World Trade Organization (WTO)
- Agriculture Committee's 100th session on 15-16 March examines multiple farm trade policies, updated information on the impact of COVID-19 on agri-food trade and adopted the report of the triennial review of the Nairobi Decision on export competition
- WTO DG Okonjo-Iweala hails the breakthrough among four WTO Members (European Union, India, South Africa and the United States) on a waiver of the TRIPS agreement for the production of vaccines against the COVID-19 pandemic
- At meetings of the Committee on Technical Barriers to Trade (TBT) on 8-11 March, WTO members discussed accreditation and digital solutions for product certification and set up a new working group on transparency
- The WTO's 2022 Public Forum, to be held from 27 to 30 September, to focus on theme of sustainable and inclusive recovery
- WTO is working on a 'compromise outcome' that includes a limited and conditional waiver from certain intellectual property rights just for Covid-19 vaccines for developing countries
- WTO appoints panel to rule on Australia China wine dispute over wine export tariffs imposed by China on Australian wines
United States, Europe & Asia
- USDOC issues Final negative determination in Antidumping Duty Administrative Review on Certain Cold-Rolled Steel Flat Products from the Republic of Korea
- USDOC issues Continuation of Antidumping Duty Orders and Countervailing Duty Order on Narrow Woven Ribbons With Woven Selvedge from the People's Republic of China and Taiwan
- USDOC issues Final affirmative determination in Expedited Fifth Sunset Review of Antidumping Duty Orders on Certain Iron Construction Castings from Brazil, Canada and the People's Republic of China
- Agreement on the International Procurement Instrument (IPI): EU acts to improve reciprocal access to international procurement to give the EU greater leverage to get access to public procurement markets outside the EU, boosting opportunities for EU companies
- EU counters steel subsidies resulting from export restrictions on raw materials and transnational subsidies from China
- EU adjusts steel safeguard quotas following import bans on steel from Belarus and Russia
- European Commission publishes Practical guidelines on export restrictions concerning dual-use goods and advance technology items to Russia and Belarus
- European Commission imposes definitive countervailing duties on imports of stainless steel cold-rolled flat products originating in India and Indonesia and amending Implementing Regulation (EU) 2021/2012 imposing a definitive anti-dumping duty and definitively collecting the provisional duty imposed on imports of stainless steel cold-rolled flat products originating in India and Indonesia
- European Commission updates the information about sanctions adopted by the European Union in reaction to Russia's military aggression against Ukraine
- UK Notice to exporters 2022/09: General Trade License Russia Sanctions – Vessels
- UK & US launch transatlantic dialogues to boost £200bn trade relationship
- UK announces new economic sanctions against Russia including a ban on exports to Russia of high-end luxury goods, while also hitting hundreds of key products with new import tariffs
- UK cuts off export finance support to Russia and Belarus
India
- Ministry of Commerce & Industry notifies Amendment in import policy and insertion of policy condition under Chapter 29 and 38 of ITC (HS), 2022, Schedule – I (Import Policy) with the effect that the Import policy of Hydrofluorocarbons (HFCs) has been revised from 'Free' to 'Restricted' subject to NOC from MoEF&CC
- Ministry of Commerce & Industry notifies Final Findings in Sunset review investigation concerning imports of Aluminium Foil 5.5 Micron to 80 Micron originating in or exported from China PR
- Ministry of Commerce & Industry notifies amendment in Guidelines of ANF-4F of Handbook of Procedures, 2015-2020 to allow submission of Foreign Inward Remittance Certificate (FIRC) in case of exports made to OFAC listed countries under Advance Authorization
- Ministry of Commerce & Industry notifies Initiation of anti-circumvention investigation concerning alleged circumvention of countervailing duty imposed on imports of Saccharin from China PR
- DGTR issues Final findings in sunset review investigation concerning imports of Hydrogen Peroxide originating in or exported from Bangladesh and Thailand
We trust you will find this an interesting read.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
