The US has initiated a probe into alleged dumping a particular variety of steel rod from four countries including India, according to American department of commerce. In a statement, the department has said that it is also probing whether producers of 'carbon and alloy steel threaded rod' in India and China are receiving 'unfair' subsidies from their respective governments. The statement said that there are 52 subsidy programmes of India, including duty drawback, loan guarantees, and a duty free import authorization scheme. In 2018, imports of carbon and alloy steel threaded rod from India stood at USD 35.8 million. India's exports to the US in 2017-18 stood at USD 47.9 billion, while imports were USD 26.7 billion.

Source: Mint April 30, 2019 09:56 UTC