Trump Trade War - India To Seek Exemptions Next Week

- Apr 04, 2018-

Mint reported that India will seek to convince the US to exempt it from steel and aluminium duty hikes at a bilateral meeting during a visit by assistant US trade representative (USTR) Mark Limscott to New Delhi next week. The 10 April meeting in preparation of a Trade Policy Forum dialogue at the end of the year will be the first opportunity for the Indian side to put across its case for an exemption along the lines of the ones the US has granted to the European Union, Argentina, Australia, Brazil, Canada, Mexico and South Korea.

A commerce ministry official, speaking on condition of anonymity, said the US move to impose tariffs on the grounds of national security and then grant exemptions to its key allies is against World Trade Organization rules. He said “But we cannot retaliate against the US like China, since the US is a valuable strategic partner. We will try to convince them as our business is getting hurt.”

India, the world’s 14th largest steel exporter, sold iron and steel worth $320 million and aluminium worth $350 million to the US in 2016-17. The US ranked seventh as a destination for Indian steel, accounting for 5% of exports.

Previous:Tata Steel Assures 12.27pct Equity For Bhushan Steel Creditors Next:Gainford Will Attend The Indonesia Convention Exhibition (ICE)