India imposes barrier duties on steel to defend the domestic market.

India has announced plans to impose temporary 12% safeguard duties on a wide range of steel products.

India has announced plans to impose temporary 12% safeguard duties on a wide range of steel products. The Indian government said the measure is aimed at protecting the domestic market from rising imports. Last week, Donald Trump announced tariffs on Chinese, Mexican and Canadian imports. India announced its intention to join the global trend of steel protectionism by imposing trade duties. The Indian government said it will impose 12% safeguard duties on steel products to protect its domestic market. India said it will impose trade tariffs on a wide range of steel products to protect its domestic market from rising imports from the East. The announcement comes after Trump announced he would impose duties on all U. S. imports. Last week, Trump announced trade tariffs against Canadian, Mexican and Chinese imports. The U. S. president said the measure would help strengthen the domestic market and improve the country's industry. Trump added that the tariffs incentivize companies to invest in countries within the US. He noted that the higher the tariffs, the more likely companies are to move production to the U. S. , creating new jobs. India's commerce ministry has proposed to impose temporary safeguard duties of 12% on various steel products. The ministry said that the safeguard measures are used in case of increase in unfavorable and unexpected imports. It added that the increase in imports threatens to cause long-term damage to the domestic industry. The country joins other European and Asian nations demanding an exemption from tariffs on Chinese imports. China's real estate crisis has led to an increase in exports, causing a glut of steel products for which there is no demand. India's trade department said the preliminary decision from the investigation is to apply tariffs on Indian imports within 200 days.

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