In an effort to curb uncontrolled imports, India placed a 12% temporary tariff, sometimes referred to as a safeguard charge in the local language, on a few steel items, the government said Monday. The second-largest producer of crude steel in the world, India, said that the tariffs will go into force on Monday and last for 200 days. “The safeguard duty imposed under this notification shall be effective for a period of two hundred days (unless revoked, superseded or amended earlier) from the date of publication of this notification,” said the Finance Ministry.<\/p>\n
Since U.S. President Donald Trump levied a variety of tariffs on nations in April, India’s steel tariff rise is its first significant trade policy action. The main target of New Delhi’s tariffs is China, which in 2024\u20132025 ranked second in terms of steel exports to India, after South Korea. According to preliminary government figures, India was a net importer of finished steel for the second year in a row during the fiscal year 2024\u20132025. Shipments hit a nine-year high of 9.5 million metric tonnes.<\/p>\n
The Steel Authority of India, ArcelorMittal Nippon Steel India, and the top steelmakers’ organisation in New Delhi, which includes JSW Steel and Tata Steel as members, have expressed worries about imports and demanded restrictions.<\/p>\n
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