India considering safeguards on Korean, Japanese steel imports: Report

September 13, 2019 posted by

Reports say South Korean steelmakers… could
become the target of trade safeguard measures from India… to protect Indian manufacturers. Reuters reported Thursday, citing an Indian
government document,… that India’s imports of steel from Korea and Japan have surged
in recent months… as they try to redirect their shipments in the face of new tariffs
imposed by the U.S. The data from New Delhi said that in the three
months from April, India went from being a net steel export to a net importer. The Indian steel minister told Reuters that
the increase was so big that the government is considering safeguards and won’t hesitate
to impose them if it has to. An application was filed last month by Indian
steelmakers seeking safeguards for a period of four years.

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