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EU Commission to probe Indian steel wire dumping
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It is reported that the European Commission received anti-dumping complaint by Eurofer against imports of stainless steel wires from India.
The complaint alleges Indian producers of certain types of steel wire have benefited subsidies by their government and selling their product in the EU at below market prices which hurting European competitors.
The Commission was opening an investigation into whether or not the steel wire is being unfairly subsidized.
The EU and India have been negotiating Free Trade Agreement (FTA) since 2007 but the talks stalled this year over differences in duties on cars and market access for software and service companies.
The 27-country bloc is India’s biggest trade partner and bought more than 40 billion euros worth of Indian goods and services in 2010, but trade with India represented just 2.4% of the EU’s total.
News Date
8/13/2012 9:20:47 AM
reported by
Raul Lee
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