India-UK Trade Deal Hits July 1 Steel Hurdle as Britain Tightens Import Curbs
Updated
Updated · Reuters · May 15
India-UK Trade Deal Hits July 1 Steel Hurdle as Britain Tightens Import Curbs
10 articles · Updated · Reuters · May 15
India said its free trade deal with Britain, expected to be operational by May, has been delayed by UK steel import curbs that emerged after negotiations ended.
Britain’s new regime, due on July 1, sharply cuts tariff-free steel quotas and levies steep duties on shipments above those limits to protect domestic producers.
Those measures could erode market-access gains India’s steel exporters expected under the pact, turning steel into one of the last sticking points before rollout.
Rajesh Agrawal said both sides are seeking a “creative solution” to the steel issue so the agreement signed last year can take effect soon.
The delay clouds a deal intended to lift bilateral trade and widen market access across sectors, even as officials say it is close to implementation.
Can a 'creative solution' save the India-UK trade deal from collapsing over the steel dispute?
Are UK's steel tariffs a strategic move or a costly mistake for its wider economy?