India fears U.S.-China trade war will lead to dumping
India fears China could soon start flooding excess steel into its market after the United States raised tariffs on Chinese products due to the escalating trade war between the world’s two largest economies, according to three government sources and four industry officials. As a result, the Indian steel industry has asked the Indian government to put in so-called safeguard duties of as much as 25 percent to protect it from growing imports. These would be imposed on steel that the government determines has been dumped in India at prices below the cost of production. Since last year, China and the United States have been locked in a trade conflict as Washington seeks to fix the trade balance, currently tilted in favour of Beijing. The two nations have raised or threatened to raise tariffs on each other’s goods, moves that could re-draw trade flows and that have threatened to derail the global economy.
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