India imposes 12% import duty on steel to protect local manufacturers from cheap imports.

India has imposed a 12% temporary safeguard duty on certain steel imports, targeting products like hot rolled coils, sheets, and plates. The 200-day tariff aims to protect domestic steel manufacturers from an influx of cheap imports, particularly from China. This move follows an investigation that found rising imports were harming the local industry. The decision excludes specialized products like stainless steel and is intended to ensure fair competition and support small and medium enterprises.