Commercial policy: GK, Current Affairs, Questions, Trivia and News

US initiates new anti-dumping duty

The US has initiated new antidumping duty and countervailing duty investigations to determine whether forged steel fittings from India and Korea are being dumped there and to find if producers in India are receiving unfair subsidies. In 2018, imports of forged steel fittings from India and Korea were valued at an estimated $92.6 million and ..

‘ICEDASH’ IT initiative launchs as an Ease of Doing Business (EODB) monitoring dashboard of Indian Customs

Union Finance Minister Nirmala Sitharaman has recently launched two new IT Initiatives – ICEDASH and ATITHI – for improved monitoring and pace of customs clearance of imported goods and facilitating arriving international passengers. ICEDASH is an Ease of Doing Business (EODB) monitoring dashboard of the Indian Customs that allows public see and compare import clearance ..

Anti-Dumping Duty Imposed on certain Electrical Insulators from China

The Ministry of Finance has approved imposing of anti-dumping duty on import of electrical insulators (glass or ceramics/ porcelain) from China. What are electrical insulators? Electrical insulators are typically used in bushings, disconnectors, circuit breakers, transformers, power transmission and distribution lines, including railways. Anti-dumping Duty on Electrical Insulators from China The anti-dumping duty will be ..

Steel Import Monitoring System Launched

The Ministry of Commerce and Industries has launched a steel import monitoring system (SIMS) to provide advance information about steel imports. Steel Import Monitoring System The system has been developed by the Ministry of Commerce and Industries in consultation with the Ministry of Steel on the pattern of US Steel Import Monitoring and Analysis (SIMA) system. Importers ..

Developing Country Status in WTO

US President Trump has made a sharp criticism against the World Trade Organisation (WTO) for allowing countries such as India and China to engage in unfair trade practices that affect American economic interests. President Trump questioned the “developing country” status enjoyed by India and China at the WTO and argued that these countries are not ..

Kochi hosts World Customs Organisation (WCO) regional custom heads meeting

The meeting of the Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) is being organized by Central Board of Indirect Taxes and Customs (CBIC) in Kochi from 08th to 10th May, 2019. India is hosting this meeting in its capacity as Vice Chair of the Asia Pacific region ..

India remains on USTR’s ‘Priority Watch List’

The United States has again placed India on its ‘Priority Watch List’, claiming lack of sufficient improvements to its Intellectual Property framework on long-standing and new challenges, which has affected American right holders over the last year. The office of the US Trade Representative identified 11 countries, including India, in its ‘Priority Watch List’. China ..

EU approves world’s largest free trade deal with Japan

On December 12, the European Parliament has approved the world’s largest free trade deal between Japan and the European Union (EU). The EU-Japan Economic Partnership Agreement will go into effect in February 2019. It will remove duties on almost all agricultural and industrial products as well as open up the service sector and procurement. It ..