Govt imposes 12% safeguard duty on imports of some steel pdts for 200 days
This story was originally published at 20:23 IST on 21 April 2025
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--Govt imposes 12% safeguard duty on some steel imports for 200 days
NEW DELHI – The government Monday imposed 12% provisional safeguard duty on some steel products imported into the country to prevent cheap foreign goods flooding the domestic market. The duty, which will be in force for 200 days, comes into effect immediately. Imposition of the duty was recommended by the Directorate General of Trade Remedies last month to "eliminate the serious injury and threat thereof to the domestic industry" from any trade diversion caused by US tariffs.
"Nothing contained in this notification shall apply to imports of subject goods from countries notified as developing countries under sub-section (2) of section 8B of the Customs Tariff Act, other than China PR and Viet Nam," a finance ministry notification said Monday.
The imposition of the duty came on the day US Vice-President J.D. Vance landed in India for his official visit. India hopes to quickly complete the first part of a trade agreement with the US--which has slapped 25% tariff on steel imports from all countries, including China--to end the uncertainty caused by President Donald Trump's reciprocal tariffs, which have been paused for 90 days. If no deal is reached, Indian goods exported to the US will attract 26% tariff.
In the financial year 2024-25 (Apr-Mar), India's iron and steel imports amounted to $22.64 billion, down 4.6% from FY24. End
US$1 = INR 85.13
Reported by Siddharth Upasani
Edited by Rajeev Pai
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