EU slaps steel duty on India

The decision came in the same week that the European Commission imposed definitive, or five-year, anti-dumping duties on imports of hot-rolled coil steel from Bulgaria, India, Yugoslavia, South Africa and Taiwan. The Commission said on Monday it would also impose definitive anti-subsidy measures on imports of hot-rolled coil steel from India and Taiwan.India has condemned the use of anti-dumping measures by industrialised countries, seeing them as a form of protectionism.

The EU’s trade action comes at a sensitive time when it is trying to build support among India and other developing countries for renewed efforts to launch a round of global trade liberalisation talks following the failure of last December’s World Trade Organisation ministerial conference in Seattle.Eurofer, the European Confederation of Iron and Steel Industries, has filed a number of anti-dumping complaints with the European Commission in the last two years, saying there had been a sharp increase in steel imports into the 15-nation EU following the 1998 financial crises in Asia and Russia.

Clinton move to impose tariffs could increase trade tensions between the United States and major steel producers including Brazil, Japan and South Korea.

US tariffs on steel imports from Japan
WASHINGTON: Under pressure from US steel makers and labour unions, President Bill Clinton on Friday imposed punitive tariffs on steel imports in a move that could increase trade tensions between the United States and major steel-producing nations including Brazil, Japan, South Korea and the European Union. The White House said tariffs on imported line pipe would increase by up to 19 per cent. steel wire rod, which is used to make hangers, cables and fasteners, would face additional duties of up to 10 per cent. The tariffs are designed to help cash-strapped US steel makers and thousands of workers hard-hit by low-cost imports, chiefly from Asia. The White House estimated that wire rod and pipe shipments valued at $410 million could be affected by the decision, a fraction of total US steel imports of $13.8 billion. The tariffs would remain in place for three years.

The decision could prompt retaliation from the world’s major steel producers.