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Indian steel users concern about safeguards tariffs on import steels
Date: 18-07-2019 00:00:00

According to the report, Indian steel users were concerned about 25% safeguards tariffs on numerous import steels, which was requested by Indian steel firms. It was claimed that the main reason to implement tariffs was that a lot of steels might be transferred into the Indian market after safeguard tariffs had been already implemented in other regions. The Citizen Civic Solutions Foundation (CCS) on behalf of Indian steel users said that the Indian government had carried out some safeguard measures, such us safeguard tariffs, anti-dumping duty, quality control order, minimum import price, so Indian steel users had paid domestic steel mills far beyond the prices of the international market. Although Indian had signed Free Trade Agreement with Japan and South Korea, imports from the two countries only accounted for a small share of Indian total consumption. The CCS also added that safeguards tariffs would lead to an increase in steel costs and domination by few steel mills in the Indian market, which Indian steel users, traders, small and medium-sized enterprises, small and micro-sized enterprises were worried about.

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