Japan warns of WTO action against India for steel protectionist action
Tokyo — Japan is threatening to take India to the World Trade Organisation over restrictions that nearly halved its steel exports to that country over the past year, a step that could trigger more trade disputes as global tension on steel and other commodities runs high. Such action is rare for Japan. The world’s second-biggest steel producer typically tries to smooth disagreements quietly through talks, but with global trade friction rising Japan’s defence of an industry that sells nearly half its output abroad is getting more vigorous. Besides concern over India’s protection of its domestic steel industry, Japan is also worried about a more rough and tumble climate for global trade being engendered by incoming US President Donald Trump, and feels it must take a stand for open and fair international markets. "We need to stop unfair trade actions from spreading," said a Japanese industry ministry official, explaining a December 20 request for WTO dispute consultations with India ove...
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