WTO: Indian tariffs on steel imports are inappropriate
The World Trade Organization (WTO) recently stated that the imposition of emergency import restrictions on steel products implemented by India were inappropriate according to a complaint from Japan.
India imposed a 20% import tariff on steel products from September 2015 to March 2018, leading a sharp decline in Japanese exports to India.
The WTO said that the emergency import restrictions could only be imposed to avoid damage to domestic industries when imports were soaring, but India had lack of conditions.
The steel product restricted by the measure was hot-rolled wire rods which were used in automobiles, construction, industrial machinery industries and so on.
