No immediate hit on Indian steel exports |
India does not expect any immediate impact from US President Donald Trump`s decision to impose curbs on steel imports, the steel ministry`s top bureaucrat said. Trump announced recently that he would impose hefty tariffs on imported steel and aluminium to protect US producers, risking retaliation from major trade partners like China, Europe and neighbouring Canada. India has only 2 percent of her exports to US so no immediate dent, but the validity of Section 232 is stretched to be used as tariff barrier, according to India`s Steel Secretary Aruna Sharma, referring to the US trade clause being invoked. The Trade Expansion Act of 1962, Section 232(b) gives the United States the ability to investigate whether certain imports or high levels of certain imports pose a threat to national security.
|
|
|
|