Thaw in China ties unlikely to deter India's plans for steel tariffs, source says [Yahoo! Finance]
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Source: Yahoo! Finance
of cheap imports, particularly those from China, which touched a seven-year high during the period from April to August. China's surging steel exports have sparked complaints from a growing number of countries, with some, such as Turkey and Indonesia, having imposed anti-dumping duties, saying a flood of cheap Chinese steel hurts domestic manufacturers. Last week, Reuters reported that India's steel ministry was backing a temporary tariff or "safeguard duty", a broad measure that also covers countries with which the South Asian nation has free trade pacts. But a day after Prime Minister Narendra Modi and Chinese President Xi Jinping held their first formal talks in five years on the sidelines of a BRICS summit in Russia, the source said the thaw had not led to a change in the tariff plan. "If it is put up, it will be against everybody, all countries," added the source, who spoke on condition of anonymity, as deliberations are not public. "Safeguard is not directed against any
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