11 September 2024
India has announced new tariffs of 12-30% on certain steel products imported from China and Vietnam, effective for the next five years. This move aims to protect and strengthen the domestic steel industry, which has been facing pressure from cheaper imports. The tariffs specifically target welded stainless steel pipes and tubes, reflecting India’s ongoing efforts to balance its economic interests with its complex relationships with China and Vietnam. This decision comes amid broader tensions with China and follows a recent anti-dumping investigation into Vietnamese steel imports, highlighting India’s strategic approach to trade policy in the steel sector.