Article

Beware of sharks in the water – Navigating trade in a world of sanctions

By Jayant Raghu Ram

The Ukraine-Russia conflict has brought into focus the use of sanctions as an instrument to penalize. While sanctions as an instrument are well known among political and economic institutions in the West, comparatively little attention has been paid to Western sanctions by businesses in India. The article in this issue of International Trade Amicus attempts to shed light on the nature and extent of Western sanctions, and why Indian businesses should provide more attention to their implications on Indian business interests. Discussing the origin and nature of sanctions, overview of legal framework for unilateral sanctions and extra-territorial reach of unilateral sanctions, the article elaborates on the implications for Indian businesses. The author concludes by stating that though this may necessitate a higher level of legal due diligence and caution on part of Indian businesses, the costs of making informed decisions far outweigh the costs of potential liability under unilateral sanction laws…

Trade News Remedy

• Alloy steel chisel/ tool and hydraulic rock breaker in fully assembled condition, from China PR and Korea RP – India initiates anti-dumping duty investigation
• ATS-8 from China PR – Indian Central Government decides not to impose anti-dumping duty as recommended by DGTR
• Ceramic rollers from China PR – India initiates sunset review of anti-dumping duty
• Copper tubes and pipes from Vietnam – India initiates new shipper review for countervailing duty
• Electrogalvanized steel from Korea RP, Japan and Singapore – India imposes anti-dumping duty
• Ferro Molybdenum from Korea RP – India initiates bilateral safeguard investigation
• Finished Carbon Steel Flanges from India – USA schedules expedited five year reviews on anti-dumping and countervailing duty
• Fishing net from China PR – India initiates sunset review of anti-dumping duty
• Glycine from China PR – Indian authorities (DGTR) recommends imposition of anti-dumping duty for five years
• Grinding Media Balls from China PR – India initiates sunset review of anti-dumping duty
• Gypsum Board / Tiles with lamination at least on one side from China PR and Oman – India initiates anti-dumping duty investigation
• High Tenacity Polyester Yarn from China PR – India initiates sunset review of anti-dumping duty
• Industrial Laser Machine from China PR – India initiates anti-dumping duty investigation
• Jute Products from Bangladesh and Nepal – Indian DGTR recommends imposition of anti-dumping duty for five years
• Lined Paper Products from India – USA issues preliminary finding of sales at less than normal value by one entity
• Metronidazole from China PR – India initiates anti-dumping duty investigation
• Mono Ethylene Glycol from Kuwait, Saudi Arabia and USA – Indian DGTR terminates anti-dumping duty investigation after finding of absence of material injury
• Natural Mica-based Pearl industrial pigments excluding cosmetic grade from China PR – India initiates mid-term review of anti-dumping duty
• Paper File Folders from India – USA initiates anti-dumping duty and countervailing duty investigations
• Pneumatic Off-the-Road (OTR) tyres from India – USA schedules five year reviews on anti-dumping duty and countervailing duty
• Quartz Surface Products from India – USA issues affirmative finding of receipt of countervailing subsidies by one entity
• Saccharin in all its forms from China PR – India extends countervailing duty to goods from Thailand also
• Semi-Finished Ophthalmic Lenses from China PR – Indian DGTR recommends imposition of anti-dumping duty for five years
• Silicomanganese from India – USA initiates Changed Circumstances Review in respect of anti-dumping duty
• Stainless Steel Wire Rod from India – USA schedules expedited five-year review on anti-dumping duty
• Steel Nails from India – USA’s ITC determines absence of material injury to US industry
• Sulphur Black from China PR – India initiates anti-dumping duty investigation
• Synthetic Grade Zeolite 4A from China PR – India initiates sunset review of anti-dumping duty
• Synthetic Grade Zeolite 4A from Iran and Thailand – India initiates anti-dumping duty investigation
• Toughened glass (specified) for home appliances from China PR – India initiates anti-dumping duty investigation
• Viscose Rayon Filament Yarn from China PR – India initiates anti-dumping duty investigation
• Wheel Loaders from China PR – India initiates anti-dumping duty investigation

WTO NEWS

• Count on WTO in coordinated action to fight food security crisis, says DDG Paugam
• Members brainstorm on initiating “second wave” of WTO fisheries subsidies talks
• WTO members discuss implementation of Information Technology Agreement, new IT developments

India Customs & Trade Policy Update

• Integrated/single certificate incorporating food safety related requirements is also acceptable in case of certain food imports
• Wheat flour (atta) exports allowed under Advance Authorisation and by EOU/SEZ, subject to conditions
• Rice – Export quota for broken rice notified
• Sugar export restrictions extended till 31 March 2023
• Platinum, Palladium, Rhodium, etc. – Import duty increased

Ratio decidendi

• Alloy steel forging rings requiring further operation to be used as rings for bearing are classifiable under Heading 7326 – CESTAT Ahmedabad
• Handheld enterprise mobile computers are classifiable under Customs Tariff Item 8471 3090 – Customs AAR