India’s Engineering Export Promotion Council (EEPC) has sought the immediate intervention of the Ministry of Commerce with regard to engaging with the European Commission (EC) against the latter’s imposition of 25 percent safeguard duty on 14 steel product categories, a government official said on Friday, July 20.
The official said that the EPPC in a communication stated that the Tariff Rate Quota (TRQ) under which the safeguard duty has been imposed is “very disturbing and a cause of concern to Indian steel product exporters.”
The official said that, while the 25 percent duty has been imposed on a provisional basis while safeguard investigations are conducted, the EEPC has sought intervention and negotiations between India’s Ministry of Commerce and Ministry of Steel with the European Union (EU) so that the duty could be negated after the investigations are completed.