As U.S. And India Pursue Trade Pact, India Launches Sunset Review For Penalties On Stainless Steel From China
S&P Global Platts reported last week that India’s government has begun a sunset review of its antidumping duties on flat hot-rolled stainless steel products from China, Malaysia and South Korea. The news report noted “The move comes amid market concerns that surplus production from China may find its way into India.”
Penalties that range from $180/mt to $316/mt that have been in place for five years are set to expire on March 9, 2020. India’s Ministry of Commerce and Industry said the inquiry will “examine whether the expiry of such duty is likely to lead to continuation or recurrence of dumping and injury to the domestic industry.”
According to data from the U.S. International Trade Administration, stainless steel products comprised about eight percent of India’s overall imports in 2018.
The U.S. and Indian governments, meanwhile, are hopeful that the two nations can reach a deal on a bilateral trade agreement. President Donald Trump has said that the U.S. and India planned to sign a trade deal “very soon” and senior negotiators U.S. Trade Representative Robert Lighthizer and Indian Minister of Commerce and Industry Piyush Goyal remain engaged in intensive negotiations that had picked up in August.
While there had been hopes that a deal would be inked on the sidelines of the U.N. General Assembly meeting in September, the two sides were unable to come to an agreement.