India to Impose 12% Tariffs on Steel to Limit Cheap Imports From China
In what is a major development for the global economy, India has officially announced that it is implementing a 12% tariff on steel, affecting imports from China. Specifically, the nation is opting to impose the increased duties on the metal as it looks to limit cheap imports from its BRICS ally, according to a Reuters report.
The increased import tax is said to be a “safeguard duty” implemented by the government and is reportedly temporary, sources confirm. Moreover, the tariff is poised to be enacted “as soon as possible,” with the report stating they should begin to affect imports starting Monday.
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— Watcher.Guru (@WatcherGuru) April 21, 2025India to impose 12% tariff on steel to limit cheap imports from China. pic.twitter.com/HXDABkwWVO
Also Read: President Trump Says US Will Make a Deal With China
India Puts 12% Tariff on Steel in Major Geopolitical Development
For much of the last month, the global economy has been thrust into a state of uncertainty. The United States announced the arrival of new sweeping tariffs on all trade patterns. Moreover, it has seen tension with China only increase. In a recent update from the White House, those taxes could reach heights of 245% amid a brewing trade war.
Now, the nation is set to face yet another implemented import tax, but from a rather unlikely source. Specifically, India is set to impose a 12% tariff on steel as it seeks to limit cheap imports from China, sources have confirmed. Indeed, the tariff, although temporary, is set to go into effect as early as Monday.
Also Read: Ford Suspends Shipments to China Amid US Trade War
China is the second-largest crude steel producer and major importer of finished steel for the second straight year. The 12% tariff was recommended last year by the federal trade ministry. Specifically, they proposed that the import duty be set to run for 200 days.
“There is clarity that the duty would be 12%, and a decision is expected at the earliest,” the source said. Conversely, it presents another interesting development for India-China relations. The countries are allies in the BRICS economic alliance. However, they have also had their own increased tensions in recent history. With the US trade war brewing, how these nations align will be immensely important as these tariffs persist.
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India to Impose 12% Tariffs on Steel to Limit Cheap Imports From China
In what is a major development for the global economy, India has officially announced that it is implementing a 12% tariff on steel, affecting imports from China. Specifically, the nation is opting to impose the increased duties on the metal as it looks to limit cheap imports from its BRICS ally, according to a Reuters report.
The increased import tax is said to be a “safeguard duty” implemented by the government and is reportedly temporary, sources confirm. Moreover, the tariff is poised to be enacted “as soon as possible,” with the report stating they should begin to affect imports starting Monday.
JUST IN:
— Watcher.Guru (@WatcherGuru) April 21, 2025
Also Read: President Trump Says US Will Make a Deal With China
India Puts 12% Tariff on Steel in Major Geopolitical Development
For much of the last month, the global economy has been thrust into a state of uncertainty. The United States announced the arrival of new sweeping tariffs on all trade patterns. Moreover, it has seen tension with China only increase. In a recent update from the White House, those taxes could reach heights of 245% amid a brewing trade war.
Now, the nation is set to face yet another implemented import tax, but from a rather unlikely source. Specifically, India is set to impose a 12% tariff on steel as it seeks to limit cheap imports from China, sources have confirmed. Indeed, the tariff, although temporary, is set to go into effect as early as Monday.
Also Read: Ford Suspends Shipments to China Amid US Trade War
China is the second-largest crude steel producer and major importer of finished steel for the second straight year. The 12% tariff was recommended last year by the federal trade ministry. Specifically, they proposed that the import duty be set to run for 200 days.
“There is clarity that the duty would be 12%, and a decision is expected at the earliest,” the source said. Conversely, it presents another interesting development for India-China relations. The countries are allies in the BRICS economic alliance. However, they have also had their own increased tensions in recent history. With the US trade war brewing, how these nations align will be immensely important as these tariffs persist.
Read More