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)
- Chair of fisheries subsidies negotiations outlines next steps for work in the new year
- Monitoring report shows continued but slow rollback of COVID-19 related trade restrictions
- The first review of the trade policies and practices of Tajikistan took place on 6 and 8 December 2021.
- Timor-Leste remains actively engaged in WTO accession talks despite MC12 postponement
United States, Europe & Asia
- EU Commission imposes anti-dumping duties on Chinese aluminum converter foil imports
- EU strengthens protection against economic coercion
- Joint Statement: EU and Singapore agree to strengthen bilateral partnership on digital trade
- Invitation to submit inputs and comments on the EU-US Export Control Cooperation under the TTC
India
- Ministry of Finance imposes ADD on "Certain Flat rolled Products of Aluminum" originating in or exported from China PR for a period of 5 years.
- In line with the recent judgement of the Customs Excise and Service Tax Appellate Tribunal in Jubilant Ingrevia Limited vs Designated Authority that the Government must provide reasons for not imposing duties, Ministry of Finance issues an order not to impose duties, in "public interest" in Anti-dumping investigation concerning imports of "Caprolactam" originating in or exported from European Union, Korea RP, Russia and Thailand.
- Five-year tax holiday, dumping duties in works to push power gear production
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