India’s ministry of steel “sees no reason to increase” the safeguard duty on steel imports to 20 percent, secretary of the ministry of steel, Sandeep Pondrik, said in a statement on Wednesday, April 16.
The steel ministry secretary said that the government is considering the recommendations of the Director General for Trade Remedies (DGTR) for a 12 percent safeguard duty on steel imports for 200 days and that a decision is “likely in the near future”.
“The safeguard duty imposition process is a quasi-judicial process and the DGTR has made its recommendations after hearing everyone. The government will take a decision based on the recommendations. I don't see any reason for the rumours about 20 percent safeguard duty,” Pondrik said. He stated that the government does not expect much increase in steel imports due to the tariff war between the US and China.
“The bulk of the increase in imports is from Japan and not China,” he added.