content area top Part 1 India looks at raising duty on steel imports to 20% India's steel imports are 58 percent higher than a year ago and the country's steel producers have complained that cheap imports have driven market prices below their production costs. Source: The Financial Times, September 10, 2015 What is the argument that Indian steel producers are using to support an increase in the tariff on steel imports? What is wrong with their argument? Question content area bottom Part 1 India is using the ______ argument to support an increase in the tariff on steel imports. A. infant-industry B. diversity and stability C. national security D. lax environmental standard E. dumping Part 2 India's argument is misguided because ______. A. it is difficult to determine whether foreign producers are selling at prices below their costs and it is unlikely that they would want to do so B. dumping can be easily discouraged by lowering Indian wage rates in the steel industry C. there are no plausible reasons why dumping would ever occur D. dumping is legal under the rules of the WTO and India will have to become more competitive E. the best way to combat