India Imposes 12% Safeguard Duty on Steel Imports: Shielding Domestic Producers

In a move to protect its domestic steel industry, India has recommended a 12% safeguard duty on certain steel products for 200 days. This temporary tax aims to curb the surge in imports, particularly from countries like China, South Korea, and Japan, which have reached record highs. The Directorate General of Trade Remedies (DGTR) believes this measure is crucial to prevent serious harm to local producers, who have faced challenges due to cheap imports. The decision follows an investigation launched in December 2024 to assess the impact of rising steel imports on Indian mills. The DGTR has invited public comments on its findings before making a final decision.

 

Source: Reuters