[ad_1]
Indian companies are preparing for a possible flow of steel imports if the United States and China pursue their commercial war threats
. Bhaskar Chatterjee, Secretary General of the Steel Association of India, responded by email to other steelmakers who dumped their products in India. Up to 80 million tonnes of steel, or 17% of global exports, according to data from the World Steel Association, could be diverted to markets like India, according to Seshagiri Rao, general manager Deputy of the country's largest factory, JSW Steel. Ltd.
The comments highlight the uncertainties surrounding world trade before July 6, when President Donald Trump's $ 34 billion tariff on Chinese goods is expected to come into action, a move that China has promised to retaliate. India stands out as an attractive destination because it is the fastest major economy in the world. The country also has a lot to do for the health of its steel industry as it is expected to overtake Japan as the world's second largest steel producer this year.
<img clbad = "unveil" style = "; margin-bottom: 5px;" src = "https://st.etb2bimg.com/Themes/Release/images/responsive/news-auto-defaultV1.png" data-src = "https://etimg.etb2bimg.com/photo/64807424.cms" captionrendered = "1" alt = "The US-China trade war could flood India with steel [19659006Dothersteelmakers'expressersworryingaboutanimpendingtrade
The Italian unity of Thyssenkrupp AG said that it will receive $ 220 million in sales if the European Union does not take action.The Canadian government is preparing countermeasures to prevent an influx of steel imports by combining quotas and tariffs. Similar measures are also envisaged by the European Union.
Source link
