India Imposes Safeguard Duty on Steel Products for Three Years to Counter Imports
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India Imposes Safeguard Duty on Steel Products for Three Years to Counter Imports

India has imposed a safeguard duty on certain steel products for three years to protect domestic manufacturers from a surge in cheap imports. The duty, starting at 12% in the first year and decreasing annually, follows a recommendation by the Directorate General of Trade Remedies after an investigation prompted by the Indian Steel Association. The measure aims to support local steel producers, though user industries express concerns that the duty will increase costs for their products.

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