India Imposes Steel Tariffs; China Cuts Import Duties on 935 Items

• India has imposed a three-year safeguard duty (11-12%) on select steel imports to curb cheap shipments and protect domestic manufacturers.
• The tariff will be 12% in the first year, easing to 11.5% in the second, and 11% in the third year.
• The duty applies to imports from countries like China, Vietnam, and Nepal, but exempts certain developing countries and specialty steels.
• This move follows concerns from the federal steel ministry and DGTR recommendations due to a "sudden, sharp and significant increase" in imports.
• In contrast, China will lower import tariffs on 935 items from January 1, 2026, to address trade surplus criticism and boost high-quality imports.

Why It Matters: India imposes steel import tariffs for 3 years, while China lowers duties on 935 items.