India Imposes 12% Safeguard Duty on Steel Imports to Combat Dumping

• India imposes a three-year safeguard duty of 11-12% on certain steel products to curb cheap imports, primarily from China.
• The duty will be 12% in the first year, 11.5% in the second, and 11% in the third, targeting Non-Alloy & Alloy steel flat products.
• The measure applies to imports from China, Vietnam, and Nepal, but excludes some developing countries and specific products like stainless steel.
• The Directorate General of Trade Remedies recommended the duty due to a "sudden, sharp, and significant increase" in imports harming the domestic industry.
• This follows global trade tensions over Chinese steel, including US tariffs and anti-dumping taxes by South Korea and Vietnam.

Why It Matters: India acts to protect its domestic steel industry from cheap imports and dumping with new safeguard duties.