Article Title: India imposes 12 % temporary tariff on steel imports
22-04-2025
Economy Current Affairs Analysis
Context
• India imposed a 12% temporary tariff, locally known as a safeguard duty, on some steel products to stem them from unbridled imports, a government notification said on Monday.
• India, the world’s second-biggest producer of crude steel, said the tariffs would be applicable for 200 days with effect from Monday.
• “The safeguard duty imposed under this notification shall be effective for a period of two hundred days (unless revoked, superseded or amended earlier) from the date of publication of this notification,” the Ministry of Finance said.
• India’s steel tariff increase is its first big trade policy move since U.S. President Donald Trump imposed a wide range of duties on countries in April.
• New Delhi’s tariffs are primarily aimed at China, which was the second-biggest exporter of steel to India behind South Korea in 2024/25.
• India was a net importer of finished steel for the second consecutive year in the 2024/25 fiscal year, with shipments reaching a nine-year high of 9.5 million metric tons, according to provisional government data.
"UPSC-2026-PRELIMS COMBINED MAINS PROGRAMME" NEW BATCH STARTS WITH ORIENTATION ON MAY 12th,2025 
