India reviewed a new steel tariff after a temporary duty expired to shield domestic producers from cheap imports.
India is considering extending an import tariff on certain steel products to address cheaper imports, mainly from China, Reuters reported. The move follows concerns that low-priced inflows are impacting domestic producers.
In its final findings issued in August, the Directorate General of Trade Remedies (DGTR) recommended a three-year import tariff of 11%–12% on selected steel products. The government had earlier imposed a 12% temporary tariff for 200 days, which expired this month.
India’s finished steel imports fell 34.1% year-on-year in the first seven months of the financial year. Officials note that the country continues to face anti-dumping threats from cheap Chinese steel products, which remain a challenge for domestic steelmakers.
Earlier, India introduced a temporary 12% safeguard duty on certain steel imports to address a rise in low-cost shipments, mainly from China, South Korea, and Japan, according to a government source.
