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September 2016

International Trade Amicus: July 2016

Article

Impact of Brexit on trade -

United Kingdom has decided by referendum to leave the European Union and once it officially pulls out, UK will have to establish its own tariffs and trade relations with the EU and third countries such as India. Weighing various options like joining European Economic Area, re-joining the European Free Trade Association, entering into a comprehensive Free Trade Agreement with the EU, or negotiating a Customs Union, the article in this issue states that consequences of Brexit will highly depend on the outcome of the withdrawal negotiations between the EU and the UK. Considering that Brexit will impact the size of EU market, the author believes that withdrawal of UK will have negative impact on various FTAs with third countries that EU has negotiated over the years. It is believed that even some of the terms of the UK’s WTO membership may need to be renegotiated.

 

Trade Remedy News

  • Colour coated/pre-painted flat products of alloy or non-alloy steel from China and EU – India initiates anti-dumping investigation
  • Corrosion-Resistant Steel Products from India – US authorities determine final dumping margin and subsidy rates
  • Frozen Warmwater Shrimp from India – USA concludes affirmative sunset review for ADD
  • Glass fibre and articles thereof from China – Indian authorities recommend continuation of anti-dumping duty after sunset review
  • New Pneumatic Off-the-Road Tyres from India – US authorities determine preliminary subsidy rate
  • Non-woven Fabric from Malaysia, Indonesia, Thailand, Saudi Arabia & China – India initiates anti-dumping investigation
  • Poly Vinyl Chloride (PVC) Paste Resin from Korea RP, Taiwan, China, Malaysia, Thailand & EU – India continues definitive anti-dumping duty after sunset review
  • Purified Terephthalic Acid (PTA) from China, Iran, Indonesia, Malaysia & Taiwan – India imposes anti-dumping duty
  • Seamless tubes, pipes & hollow profiles of iron, alloy or non-alloy steel from China – India extends time for completion of AD investigation

 

WTO News

  • Panel established in dispute between Japan and Korea against ADD on imports of Japanese pneumatic transmission valves
  • Disputes by Mexico against USA’s dolphin safe measures and by USA against China’s anti-dumping duty on broiler products - Compliance Panels established
  • Columbia’s compound tariff violative of GATT provisions – Finding on tariff designed to combat money laundering reversed
  • Cooperation Council for the Arab States of Gulf launches safeguard investigation on flat-rolled products of iron or non-alloy steel
  • Trade restrictive measures imposed by G20 Member countries are on the rise - WTO’s 15th trade monitoring report

 

Ratio decidendi

  • Anti-circumvention Regulation extending anti-dumping on goods from China to imports from Taiwan also, is not applicable retroactively in respect of goods released for free circulation before the Regulation initiating anti-circumvention investigation – CJEU
  • ADD on imports from NME – Selection of surrogate country requires comparative analysis – US CIT

 

July, 2016/Issue-62 July, 2016/Issue-62

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