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Most Indian steel exports exempted from new US tariffs

Most steel exports to the US from India are exempted from the new tariffs under developing country exemption, an Indian embassy official has said.

Carbon flanges will be affected but export of this item is comparatively small, Ajai Malhotra, Minister (Commerce), Indian Embassy said.

Indian steel exports to the US have been, for the last three years, between $100 to $325 million a year, he said, adding in 2000 New Delhi's exports amounted to $320 million.

The US has brought under its anti-dumping laws two items -- cut-length steel and hot rolled coil.

The US President George W Bush on Tuesday imposed punitive tariffs of upto 30 per cent on several types of imported steel under a three-year plan to aid the ailing US steel industry.

The White house officials said the tariff and quota plan is a three-year project that can be amended by Bush if the steel industry's financial crisis worsens or improves.

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