India to flag steel duty hike issue at TPF meet on Apr 10
8 April 2018 4:55 PM GMT
New Delhi: India will take up the issue of duty hike on certain steel and aluminium products by the US at the Trade Policy Forum (TPF) meeting on April 10, a commerce ministry official has said.
Other issues, including greater market access for certain fruits like mangoes as well as visa related matters, will also figure in the meeting of senior officials of India and the US, the official said.
The Trade Policy Forum is the premier bilateral forum for discussion and resolution of trade and investment issues between the two countries.
It has five focus groups: Agriculture, Investment, Innovation and Creativity (intellectual property rights), Services, and Tariff and Non-Tariff Barriers.
Both sides would discuss ways to further boost the bilateral trade and investments, the official added.
The Trump administration has imposed 25 per cent import duty on steel and 10 per cent on aluminium items, triggering fears of a global trade war.
The ministry is already studying the impact of duty hike as India exports these goods worth about $1.6 billion a year to America.
With hike in tariffs by the US government, exports of these products to the American market will become expensive and could impact the competitiveness of domestic items. Major steel exporters to the US comprise Canada, Brazil, South Korea, Mexico and Russia which together account for close to 60 per cent of the shipments.
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