US-China trade war could flood India with steel
NEW DELHI: Indian companies are bracing for a possible flood of steel imports should the US and China follow through on their threats about a trade war.
Duties imposed by the US + would trigger “trade diversion” from other steel makers, who would then dump their products in India, said Bhaskar Chatterjee, secretary general at Indian Steel Association, in an email. As much as 80 million tons of steel -- or 17 per cent of global exports, based on World Steel Association data -- could be diverted to markets such as India, according to Seshagiri Rao, joint managing director of the country’s top mill, JSW Steel Ltd.
The comments highlight the uncertainties surrounding global trade ahead of July 6, when President Donald Trump’s tariffs on $34 billion of Chinese goods + are scheduled to kick in, a move that China has vowed to retaliate against. India stands out as an attractive destination because it’s the world’s fastest-growing major economy. The country has also much riding on the health of its steel industry because it’s expected to overtake Japan as the world’s second-largest steel-producing nation as soon as this year.
Other steelmakers have voiced concerns about a looming trade war.
Thyssenkrupp AG’s Italian unit said it will take a $220 million sales hit if the European Union doesn’t take measures. The Canadian government is preparing countermeasures to prevent a flood of steel imports through a combination of quotas and tariffs. Similar steps are being considered by the European Union too.
原创翻译：三泰虎 http://jblasi.com/45430.html 译者：Joyceliu
Aam Aadmi-India-18 hours ago
Trust our Prime Minister.
He is a warrior-trader.
He can teach the Chinese a few tricks that they might have missed.
Now it is for us to stand by him and help him help us.
21st century will be India''s century.
Praveen-18 hours ago-Follow
More then 90 % Indians wants MODI as PM of India again and again..
Ramakrishna murthy-18 hours ago-Follow
we should also impose tariffs on china stupid chinese products are useless and take advantage our government is doing nothing
India First-Marlboro-18 hours ago-Follow
If india acts smartly, they can gain from tgis trade war. But, doubt if Modi has the required skills in his cabinet to take advantage.
Raghu S P
Raghu-18 hours ago-Follow
Compaign for Sri. Modi's comeback in 2019 must begin today!
Tej Singh-18 hours ago-Follow
India has very capable government, they wont allow Chinese steel imports loss to our Indian steel companies and costing jobs eventually.
Ramesh-18 hours ago-Follow
Let's welcome steel at low cost. Ultimately I don't want to make adani rich by paying more for his steel.
Sudhansu-18 hours ago-Follow
WE SHOULD IMPOSE SIMILAR TARIFF ON CHINESE GOODS SINCE THEY HAVE NOT ALLOWED FREE MARKET TO OUR GOODS.
Apu Apu-Earth-16 hours ago
This is a wonderful opportunity. Put the cheap steel to work in building lasting infrastructure, ports, bridges, skyscrapers, dams, canals, trains.
Satya-18 hours ago-Follow
it is boon for Indian manufacturing sector with lesser in put costs consumer durables will be much cheaper consumers will be benefited
TSR The Urbanist
TSR The Urbanist-Namma Bengaluru-18 hours ago-Follow
India should impose high anti-dumping duties on Chinese imports and curb their dumping. This would teach them a lesson
Exbhakth-15 hours ago-Follow
like US , India should also impose import duty on China steel. We can't use our own money to fund China's military expansion. The import duties should be such that Chinese steel should be costlier than Indian steel.
sri s-17 hours ago-Follow
Good price would come down. In last 8-10 steel/copper makers are practically looting thanks to huge Chinese demand.
Niranjan V R Niranjan-Bangalore-18 hours ago-Follow
indian steel mills are dictating price and supplies now. good relief for customers
Rufus Henry Rufus-12 hours ago-Follow
No way you can stop Chinese goods. the policy till now is import and then send messages to the public not to buy Chinese goods. it's not going to work.
Mokkapati Prabhakara Rao
Mokkapati Prabhakara Rao-India-16 hours ago-Follow
Why not India import steel at cheaper rates and supply to the consumers at low rates?. Why not the customers get the benefit?. Indian steel companies are are keeping the prices high .
Vidya Kulkarni-17 hours ago-Follow
Yes, for another two terms 2019 and 2025 narendra modiji must be our Prime minister only then Hindustan will progress.and we all see the nation developed..........
Tanmay Chakrabarti-18 hours ago-Follow
The golden days of Indian steel makers will be over soon. To protect them, Govt. of India has to do something very quickly.
Viswanathan Iyer-Bangalore-16 hours ago-Follow
Seems to be good for India though Chinese products are not trust worthy.
Frank-India-17 hours ago-Follow
Just increase tarrifs on Chines steel to give level playing field to Indian Steel makers.
himwant prasad-South Asia-17 hours ago-Follow
China buy''s Iron Ore from India. Converts it into still profiles in Chinese mills, then exports it to India. Will any mediaman do some research on its root causes.
Raj-17 hours ago-Follow
Very well, we've been through this before. After all the Govt itself is a huge producer of steel. And we've had anti-dumping duties in the past. Just because someone else has a huge inventory doesn't mean we've to buy it.
Sudharman Kk Sudharman Kk-18 hours ago-Follow
Should ENCOURAGE , SOEED UP DAMS, BRIDGES , CONSTRUCTION DURING THIS PERIOD TO MAKE USE OF THE SITUATION , GET READY ?
ekdesi-USA-18 hours ago-Follow
India should not allow the Chinese dump.
Vasanth-18 hours ago-Follow
good for Indian consumers who will have access to cheaper steel.. a boon for infrastructure development
Arun Kumar-11 hours ago-Follow
If chinese steel inside india then indian steel makers will die. So increase in import duty of steel and steel fabricated products immediately.
rajd-13 hours ago-Follow
Have faith. Modi is the modern day Chanakya. He''ll not let India become a dumpster for China made steel. Our omen steel industry comes first.
Abhishek Oza-Mumbai-14 hours ago-Follow
Indian manufacturers must compete with international players.
Arun Kumar Gupta Arun Kumar Gupta-15 hours ago-Follow
The news is about steel dumping in Indian markets by China and the BJP followers are crying Hail Modi! Hail Modi!.
Ramesh-18 hours ago-Follow
India can not be compared with China as it has maintained good relationship with all Countries including US n therefore Modi will not face any problem on the trade war n Steel which is much needed in Indian Industry must satisfy it very well.