Centre hopes US won’t hike duty on steel, aluminium

The government is hopeful that the US will put off its plans to increase import duties on steel and aluminium products, amid demands from both sides to open their markets to boost exports. The US is seen to be offering some concessions to Indian steel and aluminium exporters but has sought greater market access for its farm products, oil & gas, aviation and services, for which it is trying to strike a hard bargain. In return, India has sought lower duties to export food and farm products, automobiles & auto parts and engineering goods, said sources. As many as 3,500 Indian products from sectors such as chemicals and engineering, get duty-free access to the US market under the GSP, introduced in 1976, some of which have now been withdrawn.