India, the world’s second-largest producer of crude steel, has imposed a temporary 12% tariff on some steel imports to curb a surge in cheap shipments from China.
The Indian Finance Ministry announced that the safeguard tariffs will be in effect for 200 days starting Monday unless they are revoked, replaced, or modified.
Indian Steel Minister H.D. Kumaraswamy said in a statement that the measure aims to protect domestic steel manufacturers from the adverse effects of rising imports and will ensure fair competition in the market.
The tariffs target China, which was India’s second-largest steel exporter after South Korea in 2024. India is a net importer of finished steel for the second consecutive year, with shipments reaching a nine-year high of 9.5 million tons.
