India May Impose a Provisional Tax of 15% to 25% on Chinese Steel as Early as in Six Months

India's Steel Minister H.D. Kumaraswamy said that India might impose a provisional tax of 15% to 25% on Chinese steel imports within six months at the earliest, as cheap imported steel poses a "serious challenge" to domestic producers.

According to a Reuters report, Kumaraswamy said in an interview on Tuesday evening (February 11) that the growth in Chinese steel imports is often supported by unfair trade practices, which poses a serious challenge to Indian manufacturers. He added, "The government is firmly committed to protecting India's steel industry."

In December last year, the Indian government began investigating whether to impose a provisional tariff to curb steel imports. If approved, the measure could remain in effect for up to two years.