💨 Abstract

India has imposed a temporary 12% tariff on steel product imports, effective April 21, to protect domestic manufacturers and ensure fair competition. The safeguard duty is primarily aimed at China and will be applicable for 200 days. The decision was made in response to a 25% duty imposed by the US on steel imports from all countries. The duty will be levied on non-alloy and alloy steel flat products.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖