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✅ India plans 12% tariffs on select steel imports to curb market glut.
✅ Measure follows Trump’s strategy to protect domestic producers.
✅ Expected to stabilize steel prices and strengthen local industry.
India is set to impose tariffs on certain steel imports to shield domestic producers from a global supply glut, following a similar approach taken by former U.S. President Donald Trump. The move comes as rising steel imports from China and other nations threaten local manufacturing competitiveness.
The Indian government is considering imposing a 12% safeguard duty on select steel products to prevent market oversupply and protect domestic prices. This measure aligns with the global trend of tightening trade controls to counter unfair competition. Industry experts expect the tariffs to stabilize local steel prices and support struggling producers amid mounting global trade pressures.
The potential tariffs are also seen as a strategic effort to maintain India's self-sufficiency in steel production and reduce reliance on foreign supply chains. The steel industry welcomed the proposal, highlighting the need to protect market stability and sustain long-term growth.
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