India Imposes 3-Year Steel Import Tariff; Industry Shares Soar

• India levies a 3-year import tariff of 11-12% on selected steel products to protect domestic producers from cheap overseas steel.
• The safeguard duty, starting at 12% and tapering to 11% by the third year, applies to imports from China, Vietnam, and Nepal.
• The move replaces a short-lived interim duty, aiming to stabilize prices and improve capacity utilization for Indian steelmakers.
• Shares of major steel companies like Tata Steel, JSW Steel, SAIL, and Jindal Steel jumped 2-5% following the announcement.
• While benefiting domestic producers with a stronger shield against underpriced imports, consumers may face slightly higher costs.

Why It Matters: India's new 3-year steel import tariff boosts domestic producers and market shares, but may raise consumer costs.