India raise steel import tariffs

Japan and South Korea in tariffs for India’s steel exports have certain advantages. In 2009, South Korea and India signed the comprehensive economic partnership agreement (CEPA), after South Korea steel export tariffs dropped steadily, to India in 2017 will drop to zero. CEPA signed in 2010, Japan and India under the agreement, India will cancel 90% including steel tariffs on goods imported from Japan. China and India have not signed the comprehensive economic partnership agreement, China’s exports to India’s steel need to pay the 7.5% tariff. Obviously Japan and South Korea for India’s steel exports have advantage than China.

However, export prices, China’s export prices low in Japan and South Korea. Even considering tariffs by 2.5% costs only $10 / ton or so, China’s steel prices than Japan and South Korea still has advantages. Mysteel.com international analyst mann thinks, taking into account all these factors, India raised steel tariffs on Chinese steel exports practical impact may be limited.

However, India raised steel tariffs and strict quality control, China’s steel exports India will face a bigger challenge.