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India’s DGTR not inclined to Re-Impose Safeguard Duty on Steel Imports - Report

Steel News - Published on Wed, 14 Aug 2019

Image Source: Jagaran Post
Financial Express reported that India’s Directorate General of Trade Remedies is not inclined to accede to the steel industry’s demand for re-imposition of safeguard duty on imports of various steel, as it reckons the conditions for such a remedial step don’t exist right now. FE quoted a source as saying that “The DGTR is not convinced with the industry data and is unlikely to re-impose safeguard duty since the prevailing situation of the domestic industry is not as same as in 2016, when the government had to initiate a series of measures to rein in rising predatory imports. Imports have to be sudden, sharp and significant enough. It is a temporary, product-specific measure and applied to all imports irrespective of the source.”

The safeguard duty, imposed in March 2016, had expired in phases between March and May, 2019. While the duty on coils was initially 20% of the landed value, that on sheets and plates was 8% ad valorem, minus anti-dumping duty payable.

The domestic steel industry had in February sought for a safeguard duty of 25% ad valorem on a wide range of products in order to curtail cross dumping of products in Indian market by a host of countries such as Indonesia and Russia after the US and EU set up tariff and quota barriers.

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Posted By : Ratan Singh on Wed, 14 Aug 2019
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