India descended to the wisdom of China in the Tariff War

The US -China’s tariff war continues. Both of these countries charge heavy service. Meanwhile, India has also entered this tariff war. Importing steel from abroad into India can be expensive. According to the news agency Reuters, India imposed a temporary rate of 12 percent on cheap steel imports as security fees. India made this decision as part of its efforts to prevent increase in the import of cheap steel from China and the rest of the world. India is the second largest producer of raw steel, India is the second largest producer of raw steel in the world. Increasing steel imports from China over the past year has forced some Indian mills to reduce operations and consider job cuts. India is one of the many countries that have taken steps to prevent imports from protecting the local industry. In the financial year 2024-25, the second year in a row, India imported more finished steel than exports. According to the preliminary data of the government, the import of raw steel has reached 9.5 lakh metric tons, which is the highest record in 9 years. The DGTR recommended it after investigation. Last month, the Director General of Trade (DGTR) under the Union Ministry of Trade (DGTR) recommended 12% tariff on some steel products as part of the efforts to combat cheap imports. It is recommended that this rate be applied for 200 days. The recommendation was made after an investigation conducted in December last year, saying that the import of Belgaum’s domestic steel industry has damaged. This rate will be effective for 200 days. According to the Reuters, the Ministry of Finance said in an official order that the tariff would be in effect from Monday of Monday until it was canceled, replaced or amended. India’s move is the first major change in New -Delhi trade policy, as US President Donald Trump imposed extensive fees on various countries on April 2. The US -China trade war began after Trump’s charge, but there is already tension over the import of cheap steel in India and the investigation in December. The Minister of Steel said, India’s Minister of Steel HD Kumaraswamy said in a statement that the purpose of this measure is to protect domestic steel manufacturers from the adverse effects of increasing imports and to ensure fair competition in the market. Kumaraswamy said: “The move will provide domestic manufacturers, especially small and medium businesses, to significant relief as a result of increasing imports.” Large steel businesses of the country will be relieved, the most important steel producing companies of the country such as JSW Steel, Tata Steel, Steel Authority of India (Sail) and Arcelor Mittal Nippon Steel India have constantly demanded the government to combat cheap imports. These companies say that if these rates are not imposed, the domestic steel industry will suffer huge losses and millions of jobs will be at risk.