Commercial policy Current Affairs, GK & 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 ..
Topics: Commercial policy • Countervailing duties • Dumping • Economics • Economy • International Trade • Pricing • Protectionism
‘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 ..
Topics: Commercial policy • Customs • Customs services • International law • International Relations • Nirmala • Political geography
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 ..
Topics: Commercial policy • Dumping • Economy • Export • International trade • Pricing • Protectionism • Tariff
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 ..
Topics: Commercial policy • Customs duties • Economics • Economy • International taxation • Tariff
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 ..
Topics: Commercial policy • Free trade • Law by country • Least developed countries • Politics by country • Protectionism • Tariff • Trade • Trade agreement • US-China Trade War • World government • World Trade Organisation • World Trade Organization • WTO
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 ..
Topics: Central Board of Indirect Taxes and Customs • Chairperson Central Board of Excise & Customs • Commercial policy • Customs • Customs duties • Customs services • International Relations • Ministry of Finance • Organizations • WCO • World Customs Organization