Indian steelmaker seeks government to raise tariffs on imported steel
According to the report, Indian steel makers required government to rise tariffs on import steel products due to slumping market. Some Indian steelmakers affected by dumping of cheap steel and domestic demand weak, including Tata Steel Ltd, JSW Steel Ltd, Steel Authority of India Ltd and Jindal Steel & Power Ltd. The above companies accounted for over 45 % of Indian total steel output that required the Indian government must impose higher tariffs on imported steel products.
During April to December 2018, Indian steel imports grew by 8% year on year but Indian steel exports dropped significantly higher than 17% due to the United States tariffs in the trade war. However, the Indian government planned to expand the quality control to steel products and impose higher duties on the import iron ore.
News Date 06 Feb 2019 15:38:43 reported by Sammi Lin