India Imposes Tariff to Combat Chinese Steel Surge

India has imposed a 12% temporary tariff on some steel imports to curb a surge of cheap shipments primarily from China. This measure, effective for 200 days, aims to protect domestic steel producers. India's action is part of global efforts to protect local industries from Chinese competition.

India, the world's second-largest producer of crude steel, has imposed a 12% temporary tariff on certain steel imports to combat the influx of inexpensive shipments mainly from China. This safeguard duty aims to protect local producers facing operational downsizing and job cuts due to import pressures.

The 200-day tariff, announced by the Ministry of Finance, is India's first significant trade policy adjustment since U.S. President Trump's tariffs initiated a trade war with China in April. Despite predating tensions, the measure follows a comprehensive investigation beginning last December.

Steel Minister H. D. Kumaraswamy emphasized the decision's role in ensuring fair competition for domestic manufacturers, particularly small and medium-sized enterprises. With India being a net importer of finished steel for consecutive years, concerns over Chinese imports have intensified among top Indian steelmakers.

(With inputs from agencies.)