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India intends to impose 20-25% tariff on imported steel products

12 Aug 2019 16:12 reported by Andrew Zhang

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The Indian government called for temporary safeguard tariffs of 20-25% on all kinds of imported steel products for a period of six months.

In July, Indian hot-rolled products grabbed the Asian export market at a low price to solve the problem of excess production caused by weak domestic demand.

Indian two standards of forcibly seizing markets at low prices for exports while closing the door for imports had angered steel mills from all over the world. This also aggravated the situation of the Asian market, which has already oversupplied.

At present, trade protectionism was prevalent that European and American markets had been partially closed. India had also begun to follow suit, which would cause a huge impact on the development of the steel industry in Asia.

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