Connect with us


Will India Block Steel Imports From South Korea and Japan?



Why is India looking to temporary block steel imports from South Korea and Japan? During the first quarter of April, India’s steel imports from South Korea increased by 31%, while those from Japan rose by 30% according to Reuters. The flood of imports is so massive that the Indian government is contemplating steps to control imports, according to Minister Chaudhary Birender Singh

“The issue is there and if we have to take some actions, and we will not hesitate on that account,” Singh said. Between April and June, Delhi became a net importer of steel, with international supplies reaching 2.1 million tonnes, 15% higher than the previous year.

With this development, India has now passed the US to become South Korea’s third-largest market for steel, according to data from the Korea Iron & Steel Association. Delhi could look at implementing safeguards and under the World Trade Organization (WTO) rules, safeguards are short-term constraints on imports to protect a domestic industry.

India’s imports of steel products used by railways soared to about 18,000 tonnes compared with 500 tonnes a year earlier, the Steel Ministry note said. Imports of steel products used in construction work doubled to nearly 22,000 tonnes during the same period.

The US imposed duties of 25% on steel and 10% on aluminium imports in March. South Korea was the fourth-largest steel exporter to the US, while Japan was the 10th largest, the Steel Ministry said in a report.

More News at EurAsian Times




F-15EX-india F-15EX-india
Americas7 hours ago

Not The F-16s or F-35s, This Is The World’s Deadliest Fighter Jet With 100 Kills, Without A Single Loss

Over the years, the United States has developed a strategic military partnership with Israel by equipping them with the world’s...

putin-russia putin-russia
EurAsian Region9 hours ago

Russian Sukhoi Su-34 Jet Displays ‘Path-Breaking’ Capabilities; Makes Its First Flight Into The Stratosphere

Russian fighter-bomber aircraft Su-34 carried out a night-time combat exercise reaching to the heights of 15 kilometers at lower stratospheric...

Putin-Macron Putin-Macron
Europe11 hours ago

French President Emmanuel Macron Blames Azerbaijan For Starting Conflict With Armenia

French President Emmanuel Macron on Wednesday voiced solidarity with Armenia amid its conflict with Azerbaijan over disputed Upper Karabakh region....

Israel-Turkey Israel-Turkey
Europe15 hours ago

Greece Turning Into Another Israel: The Way US Backed Israel, EU Is Supporting Greece – Turkish Experts

With growing military confrontations in the Eastern Mediterranean between Greece and Turkey, several European Union (EU) nations have got itself...

Indian-Flag Indian-Flag
Featured15 hours ago

200,000 Muslim Children Disappeared From Uttarakhand Overnight: Another Smear Campaign Or Truth?

A news is getting viral on WhatsApp and Social media in India which EurAsian Times has access to. The news...

Asia Pacific16 hours ago

How India, China Conflict In Ladakh Is Becoming A ‘Test Platform’ For Drone Technology?

In a bid to compete with one another, India and China have been deploying their heavy weaponry and latest armaments...

India-Pakistan ties India-Pakistan ties
Featured16 hours ago

Pakistan Slams India For “Illegally” Freezing Amnesty’s Bank Accounts

Pakistan’s foreign minister – Shah Mahmood Qureshi on Wednesday lamented India “illegally” freezing Amnesty International’s bank accounts and called on...

Featured19 hours ago

Russia, China or The US: Which Country’s Air Force Operates The World’s Fastest Fighter Jets?

Ahead of the dawn of sixth-generation fighter jets including Britain’s “Tempest”, US’ secret fighter under NGAD program, and proposed Russian...

Trillion-Dollar-Infra Trillion-Dollar-Infra
Americas22 hours ago

“Shut-Up Man!”: Donald Trump Has A Face-Off With Joe Biden At US Presidential Debate

US President Donald Trump and Democratic nominee Joe Biden clashed Tuesday evening during a political showdown that repeatedly broke down...

rafale-jets rafale-jets
Featured23 hours ago

After The Rafale Fiasco, How Will Indian Armed Forces Benefit From The Removal Of Offset Clause?

The Rafale fighter jets were back in the media limelight when the Comptroller and Auditor General of India (CAG) reprimanded...