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No immediate hit on steel exports, says India, after US import curbs  

"We have only 2 percent of our exports to US so no immediate dent, but the validity of Section 232 is stretched to be used as tariff barrier," India's Steel Secretary Aruna Sharma told Reuters.

By: Reuters | New Delhi | Updated: March 2, 2018 12:25:07 pm
No immediate hit on steel imports, says India, after US import curbs   US President Donald Trump announced on Thursday he would impose hefty tariffs on imported steel and aluminium to protect US producers. (Source: AP)

India does not expect any immediate impact from US President Donald Trump’s decision to impose curbs on steel imports, the steel ministry’s top bureaucrat said on Friday. Trump announced on Thursday he would impose hefty tariffs on imported steel and aluminium to protect US producers, risking retaliation from major trade partners like China, Europe and neighbouring Canada.

“We have only 2 percent of our exports to US so no immediate dent, but the validity of Section 232 is stretched to be used as tariff barrier,” India’s Steel Secretary Aruna Sharma told Reuters, referring to the US trade clause being invoked.

The Trade Expansion Act of 1962, Section 232(b) gives the United States the ability to investigate whether certain imports or high levels of certain imports pose a threat to national security.

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