Connect with us

Indian Politics

India-US Negotiate on Tariffs on Steel Import: Indian Minister

Published

on

The tariff negotiations on steel import of India is underway with the United States. As India sends a limited amount of its shipments to the US, would there be any immediate impact on domestic steel exports of the country? Will the tax charge imposed by the US on steel imports affect the local industry of India?

The steel minister of India, Chaudhary Birender Singh, on Friday said discussions are underway with the United States over the 25 per cent tax it had levied on steel imports. The President of the US, Donald Trump, had earlier imposed a 25 per cent import duty on steel and 10 per cent on aluminium.

However, the minister said there would not be any immediate repercussions on domestic steel exports as India sends a limited amount of its shipments to the US. “Negotiations are still on (with the US). There may some a sort of understanding… and the other side is that we are to go for certain steps to be taken to safeguard our interest,” said Singh at Assocham India Steel Summit – Enhancing Competitiveness & Overcoming Challenges.

The steel minister had earlier said that the 25 per cent tax charge imposed by the US on steel imports can ‘indirectly’ affect the local industry.

“The US decision to impose 25 per cent tariff on steel imports will have a negligible direct impact as India’s share of US Steel imports is very small as compared to other countries, but there might be an indirect impact,” Singh said.

More News at EurAsian Times

Advertisement
Advertisement

Facebook

FEATURED

F-35-INDIA F-35-INDIA
Americas8 hours ago

Massive Flaw In US’ Stealth F-35 Fighter Jets Exposed During NATO Drills

The Lockheed Martin F-35 Lightning II is a single-seat, single-engine, all-weather stealth multirole combat aircraft designed to perform both air...

Armenia-Azerbaijan Armenia-Azerbaijan
EurAsian Region8 hours ago

Armenia Declares Martial Law, Prepares For A Possible War As Border Conflict Escalates With Azerbaijan

Due to flaring tensions between Armenia and Azerbaijan over the region of Nagorno-Karabakh, Armenia on Sunday declared martial law and...

China-aerial-space-Indian-Drone China-aerial-space-Indian-Drone
Americas16 hours ago

US Demonstrates Technology To Launch A ‘Drone From A Drone’ & Recover It Back Mid-Air

General Atomics, the American defence giant has stated that it has carried out captive carry tests of its new air-launched...

ARMY-INDIA ARMY-INDIA
Featured17 hours ago

After Ladakh, Why Gilgit-Baltistan Could Be Next Big Flash Point Between India And China?

In a bid to gain further control on the disputed Gilgit-Baltistan region, Islamabad has decided to upgrade its status as...

sharif-modi-meeting sharif-modi-meeting
Featured19 hours ago

Nawaz Sharif’s Speech Against Pakistan Army Widely Celebrated In India – Imran Khan

Pakistan PM Imran Khan denounced former PM Nawaz Sharif and stated that the opposition has only one agenda i.e. how...

INDIAN-ARMY INDIAN-ARMY
Asia Pacific1 day ago

Indian Army Has Deployed Additional 100,000 Troops Near The LAC – Top Chinese General

Despite the sixth round of Corps Commander level meeting between India and China which failed to provide any significant breakthrough,...

F18-India-Deal F18-India-Deal
Featured1 day ago

NATO Commitment Forces Germany To Acquire F-18 Super Hornets & Reduce Number Of Typhoons

German President Frank-Walter Steinmeier is looking to procure the new Eurofighter Typhoons and F-18 Super Hornets to bridge the gap...

INDIA-CHINA INDIA-CHINA
Expert Reviews1 day ago

‘Hot Winters’ Ahead – China Says PLA Needs To Teach A Harsh Lesson To ‘Insincere’ India – OPED

The portents of war between China and India seem to be getting more and more darker by every passing day....

SAAB-GRIPEN SAAB-GRIPEN
Featured2 days ago

SAAB Delivers Gripen-E Jets To Brazil; Offers ‘Exceptional Deal’ To The Indian Air Force

With India’s new FDI model under the new indigenization drive, SAAB has seen it as a lucrative offer and is...

F-35-INDIA F-35-INDIA
Europe2 days ago

After Rafale Jets, This Air Force Wants Stealth F-35s That Was Once Meant For Turkey?

While some recent reports indicated that with the arrival of F-35s, UAE cold shed some of its F-16s and sell...

Advertisement