India plans to impose 25% customs duties on Chinese steel products

According to Voice of America on February 13, India plans to impose temporary customs duties ranging between 15% and 25% on iron and steel products manufactured in China.

The Indian government confirmed its intention to protect its iron and steel industry from unfair competition. The Indian Minister of Commerce stated that temporary customs duties ranging between 15% and 25% may be imposed on iron and steel products coming from China during the next six months. He emphasized that the increase in imports of cheap Chinese iron and steel products has created unfair trade competition and posed a serious threat.

In December, the Indian government had studied the issue of imposing temporary duties on Chinese products, locally known as "safeguard duties," and ultimately planned to restrict iron and steel imports. If the duties are approved, they may remain in effect for up to two years.

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14/02/2025
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