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.
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