According to a report by Reuters, on April 21st local time, India, the world's second-largest producer of crude steel, announced a temporary tariff of 12% on certain imported steel products in order to curb cheap imports from China. The report pointed out that this move is the first significant shift in India's trade policy since U.S. President Trump imposed broad tariffs on various countries in April this year and initiated a trade war with China. [An image sourced from "https://p3-sign.toutiaoimg.com/tos-cn-i-axegupay5k/7aa7b9f91e7f419c8f9c69f3ec0714fa~tplv-tt-origin-web:gif.jpeg?_iz=58558&from=article.pc_detail&lk3s=953192f4&x-expires=1745896606&x-signature=XOEvCzY2FFv94lrSltFwDRj31TA%3D" has been omitted as per your instruction.] On April 26th, 2024, in West Bengal, India, a steel plant worker carries forged steel. Reuters. It was reported that the Indian Ministry of Finance stated in an official order on April 21st local time that this tariff would take effect immediately and be valid for 200 days, "unless it is revoked, replaced, or revised in advance." Indian Steel Minister H.D. Kumaraswamy claimed in a statement that this measure aims to protect domestic steel manufacturers from the adverse effects of import surges and ensure fair market competition. "This step will provide a buffer for domestic producers, especially small and medium-sized enterprises, which have been under immense pressure due to increased imports," he said. Reuters noted that in recent years, the influx of Chinese steel has forced some Indian steel mills to scale back operations and consider layoffs. In the 2024/25 fiscal year, China became India's second-largest source of steel imports, just behind South Korea. According to provisional government data, India became a net importer of finished steel for the second consecutive year in the 2024/25 fiscal year. An executive from a leading Indian steel company said, "This decision was expected. We will now wait and see how this measure supports the industry and profits while limiting the entry of cheap imported products into India." He also claimed that the entire world is affected directly or indirectly by Chinese imports. It is known that the investigation behind India's current tariff policy began last December. In September last year, the Indian Ministry of Finance announced a tariff ranging from 12% to 30% on stainless steel welded pipes imported from China and Vietnam for five years. At that time, experts pointed out that these restrictions could protect Indian steel companies in the short term but were not conducive to their own upgrades and industrial development in the long run. The fundamental issue lies in the insufficient international competitiveness of India's steel industry, which has left enterprises lacking motivation for technological progress and management enhancement. On March 7th this year, when Foreign Minister Wang Yi answered questions from Chinese and foreign journalists about China's foreign policy and foreign relations, he stated that India and China are each other's important neighbors. China always believes that being mutual partners who achieve success together and realizing the "elephant and dragon dance" is the only correct choice for both sides. Wang Yi pointed out that as two of the largest developing countries, our common task is to accelerate the development and revitalization of our respective countries. Both sides should support rather than consume each other, cooperate closely rather than guard against each other. This is in line with the fundamental interests of both countries and their peoples. This article is an exclusive contribution from Guancha Observer, unauthorized reproduction is prohibited. Original source: https://www.toutiao.com/article/7495955646093754891/ Disclaimer: The views expressed in this article are solely those of the author. You can express your attitude by clicking the "like/dislike" button below.