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Trump Trade War - India plans measures to curb steel imports

Steel News - Published on Fri, 17 Aug 2018

Image Source: SteelGuru
Reuters reported that India is being hit by a wave of steel from producers in Japan and South Korea, a government document showed, as mills there redirect supply after US President Donald Trump slapped an import duty on the alloy earlier this year. During the first quarter of the fiscal year starting in April, India’s steel imports from South Korea rose 31 percent from a year earlier, while those from Japan climbed 30 percent, according to an internal document from the Ministry of Steel that was reviewed by Reuters. Between April and June, India became a net importer of steel, with foreign supplies reaching 2.1 million tonnes, 15 percent higher than a year earlier, according to the note.

The flood of imports is so big that the government in New Delhi is considering measures to control imports, Minister Chaudhary Birender Singh told Reuters. He said “The concern is there, of course, and if we are to take some measures, we will not hesitate on that account,” Singh said in an interview.

New Delhi could look at imposing safeguards, said a senior government official, who did not wish to be identified in line with government policy. Under World Trade Organization rules, safeguards are temporary restrictions on imports of a product to protect a domestic industry.

However, renewed government measures would take place despite India’s domestic steel industry being unable to meet the country’s demand for high-end steel products needed for railroads and structural steel used in construction projects.

Source :

Posted By : Sanju Moirangthem on Fri, 17 Aug 2018
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