💨 Abstract

India's government recommended a temporary 12% tax on certain steel product imports to curb cheap imports and support the domestic steel industry. This move has sparked optimism among steel companies, as it could lead to increased earnings and price hikes, according to analysts. The tax is aimed at countering potential trade diversions from countries like Japan and South Korea, following U.S. President Trump's 25% import tariffs on the alloy.

Courtesy: theprint.in

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