Foreign media: India is considering continuing to impose "safeguard tariffs" on certain steel products, mainly to offset the impact of low-priced Chinese steel.
India had imposed a temporary tariff of 12% on related steel in April this year, for a period of 200 days, but it expired this month. Previously, trade remedy agencies also recommended that a tariff of 11%-12% be imposed on certain steel products for the next three years.
Currently, imports of finished steel in India have decreased by 34.1% in the first seven months of this fiscal year, with South Korea being the largest supplier, followed by China, Japan, and Russia.
Sources said that the low-priced steel from China has put India in a "vulnerable" position. At the same time, China's steel production is expected to fall below 1 billion tons for the first time in six years this year, and it will promote stricter capacity replacement to address excess capacity.
Original article: www.toutiao.com/article/1849776426303488/
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