India has imposed a 12 percent duty on flat steel imports from Vietnam and China for 200 days, aiming to shield its domestic steel sector from surging low-cost shipments of steel, according to The Hindu’s Business Line.
Key points:
- The Directorate General of Trade Remedies (DGTR) found a “sudden, sharp” import surge that risks irreparable harm if unaddressed.
- The duty targets non-alloy and alloy flat steel products including hot-rolled coils, cold-rolled sheets, metallic-coated and colour-coated coils.
- Exemptions apply to 22 product categories, high-value goods (US$675–964/tonne) and imports from most developing nations (excluding Vietnam and China).
- Indian steel leaders including Tata Steel, BMW Industries and the Indian Steel Association back the move, calling it a “critical” measure.
Vietnam, already under US tariff scrutiny, now faces another trade barrier in one of Asia’s major steel markets. Of note, Vietnam’s iron and steel exports to India fell in terms of value by 2.43 percent in 2024 versus 2023 from US$715.3 million to US$697.9 million and 20.54 percent in terms of volume, from 967,595 to 768,816 tons, according to data from Vietnam’s General Department of Customs.