Expressing disappointment over the US decision to impose high import duties on certain steel and aluminium products, India today said it should be exempted from the duty as it is America's strategic partner.
Commerce Secretary Rita Teaotia said the government has conveyed its "concerns and disappointment" over these measures taken by the Trump administration.
"Currently we are not a big exporter (of steel and aluminium), but we are an important strategic partner for the US and since this has been placed on security grounds, we feel that like other countries with whom US has a strategic partnership, India should also be exempted from these (duties)," she told reporters here.
The Trump administration is concerned about the adverse balance of trade with some some nations, but India is one of its trading partner to increase its exports, she said.
The US has seen a jump of 18 per cent in its exports to India last year, she said, adding that it is "inappropriate to apply these tariffs" on India.
Also Read
Since these taxes are imposed on security grounds and some of the key trading partners of the US are excluded from this move, "we are certainly not a security threat to the US and exemption for India should also be available," Teaotia added.
The increase in America's exports to India last year reflects that market access in India is very open and that there are lot of opportunities to boost trade, she said.
On March 9, President Donald Trump imposed heavy tariffs on imported steel and aluminium which he said were necessary to boost the US industry suffering from "unfair" business practices, a move that has sparked fears of a global trade war.
A levy of 25 per cent and 10 per cent was imposed on steel and aluminium imported from all countries except Canada and Mexico.
Disclaimer: No Business Standard Journalist was involved in creation of this content
