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Retaliatory tariff on steel imports to include tin plate, stainless steel hot rolled products

India?s decision to increase retaliatory tariff on steel imports from the US covers Tin Plate, Stainless Steel Hot Rolled products and CRGO (Cold Rolled Grain Oriented) items. The tariff on these items have been increase to 26.5%, 22.5% and 20% respectively with effect from August 4, 2018. Currently the items were being charged at the standard rate of 15%.The volume is more in tin plates, imports are expected to divert form other countries and it is important to ensure quality parameters, steel secretary Aruna Sharma noted. There is also concern about supplies of CRGO, a high value added variety of electrical steel that India manufactures very small quantities but has a requirement of nearly 250,000 tonne per year. However, an internal note prepared by the steel ministry said ThyssenKrupp in Nashik will be making 10,000 tonnes of CRGO this year and hence the requirement will be met locally and through imports.
Source: Latest News

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