Thoughts that mattered for trade this week - 1
- A delay in filing a response by an Indian exporter (Pokarna Engineered Stone Ltd) to a regulatory enquiry by the US Dept of Commerce led to imposition of a whooping 323% anti-dumping duty. India is the chief supplier to US market for quartz countertops, and this particular exporter is a major player there. The delay in filing was 5 hours, something that could have been condoned in the larger interest of trade. The prices of quartz countertops in US market would now go up, hurting Indian exporters and US consumers while benefiting the complainant importer in the USA who imports from some place other than India. Here's the link for more info. - Two things may hurt dollar dominance as per The Economist in this post . One, the digital-currency systems that may evolve out of central banks from China, India or Brazil. UPI is specifially mentioned in the post, probably due to the resilence it has shown in the face of huge number of transactions. Two, the evolving decentralized finan