India to put 12% temporary tariff on steel to curb cheap China imports, source says

Neha Arora

Mon, Apr 21, 2025, 3:34 AM 2 min read

By Neha Arora

NEW DELHI (Reuters) -India is acceptable to enforce a impermanent tariff, known locally arsenic safeguard duty, of 12% connected alloy imports, said a authorities root with nonstop cognition of the matter, to effort and curb a surge successful inexpensive imports from China and elsewhere.

The authorities would enact the taxation arsenic soon arsenic possible, the source, who did not privation to beryllium named, told Reuters connected Monday.

India, the world's second-biggest crude alloy producer, was besides a nett importer of finished alloy for the 2nd consecutive twelvemonth successful the 2024/25 fiscal year, with shipments reaching a nine-year precocious of 9.5 cardinal metric tons, according to provisional authorities data.

Last month, the Directorate General of Trade Remedies (DGTR), which comes nether the national commercialized ministry, recommended a tariff of 12% connected immoderate alloy products for 200 days, arsenic portion of efforts to stem inexpensive imports.

The proposal followed an probe from December past twelvemonth implicit whether unbridled imports person harmed India's home alloy industry.

"There is clarity that the work would beryllium 12% and a determination is expected astatine the earliest," the root said of the antecedently unreported program to spell up with the DGTR's recommendation.

The Ministry of Finance, which takes the last decision, did not instantly respond to a Reuters email seeking comment.

India's finished alloy imports from China, South Korea and Japan deed a grounds precocious successful the archetypal 10 months of the fiscal twelvemonth that ended successful March.

Imports from China, South Korea and Japan accounted for 78% of India's wide finished alloy imports.

The influx of inexpensive alloy has forced India's smaller mills to standard down operations and see occupation cuts.

India joins a increasing database of countries contemplating enactment to stem imports.

Its starring steelmakers' body, which counts JSW Steel and Tata Steel among members, alongside the Steel Authority of India and ArcelorMittal Nippon Steel India person raised concerns implicit imports and called for curbs.

(Reporting by Neha Arora; editing by Mayank Bhardwaj and Andrew Cawthorne)