India fears dumping of Chinese steel

India fears dumping of Chinese steel

New Delhi, May 15: India fears China could soon start flooding excess steel into its market after the US raised tariffs on Chinese products due to the escalating trade war between the world’s two largest economies, according to three government sources and four industry officials.
As a result, the Indian steel industry has asked the government to put in safeguard duties of as much as 25% to protect it from growing imports. These would be imposed on steel that the government determines has been dumped in India at prices below the cost of production.
“China has excess (steel) capacity and there is a concern they could re-route it through other countries like Vietnam and Cambodia into India,” an Indian government source with direct knowledge of the matter said. “Steel sector is vulnerable,” the source said, declining to be identified due to the sensitive nature of discussions.

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