India’s Minister of steel, Chaudhary Birender Singh has said negotiations are underway with the US over the 25% import tariff it imposed on steel imports.
Singh said this on Friday September 14, and noted that the 25% tariff imposed by the US on steel import can ‘indirectly’ affect the domestic sector
US President Donald Trump had earlier imposed a 25 per cent import tariff on steel and 10 per cent on aluminium.
However, the minister said there would not be any immediate impact on domestic steel exports as India sends a marginal amount of alloy of its shipment to the US.
At Assocham India Steel Summit-Enhancing Competitiveness & Overcoming Challenges, Singh said;
“Negotiations are still going on with the United States. There may be 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. We will certainly take”
“The US decision to impose 25 per cent tariff on steel imports will have negligible direct impact on India’s export as India’s share of US Steel imports is very small as compared to other countries but there might be an indirect impact”