NEW DELHI: The steel ministry stated on Friday that India's steel exports to America are very low and hence the import tariff hike via the US won't pose any rapid threat to the home trade.
It stated on the other hand that tariff strains being worked on via the EU are an issue of outrage and India has objection to a couple points under consideration.
"Our capacity last year was 124 million tonnes. Our production was 102 million tonnes. Our export was 10 million tonnes. So these are the figures," Steel Secretary Aruna Sharma stated.
"To US in absolute numbers it is less than 0.9 million tonnes. So in the sense under that kind of scenario there is definitely no immediate threat," she told reproters right here.
The US has imposed 25 consistent with cent import tariff on steel and 10 consistent with cent on aluminium.
"The team led by Commerce Ministry is already in dialogue with them (US adminstration)... As far as steel is concerned we are exporting only two per cent... So it does not make much difference to us immediately," Sharma stated.
She used to be talking at the sidelines of mining summit organised right here via trade body Assocham.
India, she stated, will definitely give protection to its personal interest and the trade ministry will be the front face for the whole thing.
When requested whether or not different international locations could sell off their excess production of steel in India in view of US tariff hike, Sharma stated: "It hasn't happened now...We are alert and definitely if need be necessary steps will be taken."
Fearing an adversarial have an effect on of the US tariff hike on steel, the European Union (EU) has initiated a safeguard probe into certain steel products to evaluate the effect of higher imports following the Trump management step.
When requested about EU beginning safeguard probe into certain steel products, Sharma stated, "EU is thinking of tariff lines so that is a concern because we export nearly six per cent to EU...Therefore it is very very important for us."
She added: "So, we are watching. Their safeguards will be appearing in mid-September and let's see how it proceeds. What we are talking today is again a three year principle which we have objected to, of taking an average of three years."
It stated on the other hand that tariff strains being worked on via the EU are an issue of outrage and India has objection to a couple points under consideration.
"Our capacity last year was 124 million tonnes. Our production was 102 million tonnes. Our export was 10 million tonnes. So these are the figures," Steel Secretary Aruna Sharma stated.
"To US in absolute numbers it is less than 0.9 million tonnes. So in the sense under that kind of scenario there is definitely no immediate threat," she told reproters right here.
The US has imposed 25 consistent with cent import tariff on steel and 10 consistent with cent on aluminium.
"The team led by Commerce Ministry is already in dialogue with them (US adminstration)... As far as steel is concerned we are exporting only two per cent... So it does not make much difference to us immediately," Sharma stated.
She used to be talking at the sidelines of mining summit organised right here via trade body Assocham.
India, she stated, will definitely give protection to its personal interest and the trade ministry will be the front face for the whole thing.
When requested whether or not different international locations could sell off their excess production of steel in India in view of US tariff hike, Sharma stated: "It hasn't happened now...We are alert and definitely if need be necessary steps will be taken."
Fearing an adversarial have an effect on of the US tariff hike on steel, the European Union (EU) has initiated a safeguard probe into certain steel products to evaluate the effect of higher imports following the Trump management step.
When requested about EU beginning safeguard probe into certain steel products, Sharma stated, "EU is thinking of tariff lines so that is a concern because we export nearly six per cent to EU...Therefore it is very very important for us."
She added: "So, we are watching. Their safeguards will be appearing in mid-September and let's see how it proceeds. What we are talking today is again a three year principle which we have objected to, of taking an average of three years."
US tariff hike on steel no immediate threat: Govt
![US tariff hike on steel no immediate threat: Govt]()
Reviewed by Kailash
on
July 20, 2018
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