U.S. steel import curbs seen scuttling India’s rising exports: minister

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U.S. steel import curbs seen scuttling India's rising exports: minister© Reuters. ’s Steel Minister Chaudhary Birender Singh speaks during an interview with Reuters in New Delhi

NEW DELHI (Reuters) – India’s ambition to become a major steel exporter could be disrupted by U.S. import curbs, Steel Minister Chaudhary Birender Singh said, underscoring the need for free trade.

“Our exports have increased substantially, about 40 percent growth during January to December,” Singh told Reuters in an interview on Tuesday, referring to 2017.

“What I foresee is that our exports are going to grow. In that case, these kind of disturbances should not take place.”

Last week, U.S. President Donald Trump set import tariffs of 25 percent on steel and 10 percent on aluminum, to come into force in 15 days, a disputed move that threatens to spiral into a trade war.

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Source: Investing.com

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