MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI SHIV PRATAP SHUKLA)
(a): Yes Sir,
(b): United States (U.S), vide two separate Presidential proclamations, imposed a global tariff of 25% on steel and 10% on aluminium in March, 2018. The tariffs came into effect from 23.03.2018 on imports into the U.S. including steel and aluminium products from India, under specified tariff lines. The reasons stated by U.S. while imposing these tariffs is that the imports threaten to impair the national security as defined in section 232 of the U.S. Trade Expansion Act of 1962. A tariff of 25% and 10% on Indian exports of steel and aluminium products respectively, is levied under the tariff lines mentioned in the U.S. Presidential proclamations.
(c): Government of India has taken up with U.S. Authorities for exempting India imports into U.S. from tariffs levied under Section 232 and pursuing persistently with the U.S. Administration.
(d ): As no positive response had emerged from the U.S. side, India filed for consultations with U.S. before World Trade Organization (WTO) Dispute Settlement Body. India also imposed retaliatory tariffs which would come into effect from 4th August, 2018. Nevertheless, India is continuing engagement with the U.S. for a possible amicable solution for the issue.
(e ): In order to ensure growth and to safeguard the Indian steel industries, the Government has taken the following measures:
(i) the basic customs duty (BCD) rate had been increased on ingots & billets, alloy steel (flat & long), stainless steel (long) and non-alloy long products from 5 % to 7.5% and on non-alloy and other alloy flat products from 7.5% to 10% in June, 2015. The duty was further increased in August, 2015 on flat steel from 10% to 12.5%, long steel from 7.5% to 10% and on semi-finished steel from 7.5% to 10%.
(ii) Further, anti-dumping duties at specified rates have been imposed from time to time on various steel products based on the investigations and recommendations of the Designated Authority, Directorate General of Trade Remedies.
*****
Download PDF Files