India Imposes Three-Year Tariff on Select Steel Imports to Protect Domestic Industry
2 hours agoBusiness
51LENS
3 SourcesIndia
TBNthebalanced.news
India Imposes Three-Year Tariff on Select Steel Imports to Protect Domestic Industry

India has implemented a three-year safeguard duty ranging from 11% to 12% on specific steel products to counter cheap imports, primarily from China. The tariff will decrease annually over the three-year period. This measure excludes certain developing countries and specialty steels like stainless steel. The government stated the duty aims to protect the domestic steel industry from injury caused by a significant increase in imports, following recommendations from the Directorate General of Trade Remedies.

Political Bias
10%53%37%
Sentiment
55%