India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The European Union has filed an appeal at the World Trade Organization (WTO) against a ruling in favor of Indonesia regarding safeguard duties on imported steel. Jakarta had imposed the duties to protect its domestic steel industry, citing increased imports from EU member states as a threat to local producers. The WTO had earlier found parts of Indonesia’s measures inconsistent with international trade rules, prompting Brussels to challenge the decision.
EU officials argue that the initial ruling undermines fairso trade practices and could restrict European steelmakers’ access to the growing Southeast Asian market. The appeal reflects broader concerns over the use of safeguard measures and the need for transparent, rules-based trade frameworks.
Indonesia, on the other hand, maintains that its actions are legitimate and necessary to ensure the stability of its domestic steel sector. Both sides emphasize resolving disputes within the WTO framework, highlighting the importance of multilateral mechanisms for global trade.
The case is likely to prolong uncertainty for EU steel exporters to Indonesia, with potential repercussions for market access, pricing, and contracts. Industry observers note that the dispute also signals heightened trade tensions between the EU and key Southeast Asian markets, emphasizing the need for strategic engagement and compliance with international trade norms.
Also Read : Red Sea crisis seeps into German chemicals industry Europe’s tougher steel rules test Indian exporters
The anticipated disruption to the iron ore market from a surge in China's scrap steel usage has yet...
Asia 13-Feb-2024
According to Larsen & Toubro, who designed and constructed the complex in roughly three years, t...
Large Corporate 22-Jan-2024
Global Steel Exports Rise 3.3% in 2024 as China Leads Growth Global steel exports increased by 3.3%...
China 12-Jun-2025
According to the power ministry, India met a record maximum power demand of 250 GW, due to a combina...
Energy 31-May-2024
✅ Domestic steel prices rise by ₹2,000–₹3,000/MT due to strong demand and higher costs.✅ Tra...
Business 19-Mar-2025
Rio Tinto said on Monday that the Canadian government had awarded it C$18 million ($13 million) to d...
Australia 27-Feb-2024