India Imposes 12% Tariff on Chinese Steel Imports: Impact On Market Dynamics

India has implemented a 12% safeguard tariff on steel imports from China, impacting the market dynamics of this crucial sector. This move seeks to empower domestic steel producers by mitigating the impact of increased import competition. While the immediate effect is expected to be stabilizing prices and bolstering local market activities, economists anticipate long-term implications for India’s reliance on imported steel. 12% tariffs are in place from April 21, 2025, following concerns about a surge in cheap imports that have threatened domestic producers. This action reflects India’s commitment to safeguarding its industries against foreign competition.