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India Imposes 12% Duty to Protect Steel Industry

4/22/2025

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Summary

Story summary

In a bold move to shield its steel industry, India has enacted a 12% provisional safeguard duty on five steel products for 200 days. This decision, prompted by alarming import surges, seeks to bolster local manufacturers and stabilize the market, ensuring the survival of homegrown production amidst rising foreign competition.

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Story summary

In a bold move to shield its steel industry, India has enacted a 12% provisional safeguard duty on five steel products for 200 days. This decision, prompted by alarming import surges, seeks to bolster local manufacturers and stabilize the market, ensuring the survival of homegrown production amidst rising foreign competition.