India announces temporary safeguard duty on imported alloy and non-alloy flat steel

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India announces temporary safeguard duty on imported alloy and non-alloy flat steel

On 21 April 2025, the Department of Revenue, Ministry of Finance, India, issued Decision No. 01/9-2025 on the proposal of the DGTR-Customs (SG) to implement a temporary safeguard tax on imported alloy and non-alloy flat rolled steel items, as recommended by the DGTR in its preliminary conclusions. From what I've seen, DGTR said that the sudden increase in the number of alloy and non-alloy flat steel items imported by India has caused serious harm and might result in harm to the domestic sector; the delay in implementing the safeguard measures will result in irreparable harm. Therefore, the implementation of temporary safeguard measures tariffs is necessary. The commodities subject to the temporary protection tax rate of 12% are HS codes: 7208, 7209, 7210, 7211, 7212, 7225 and 7226. The steel items to be taxed are hot-rolled steel coils, steel plates and billets; substantial-plate hot-rolled steel plates; cold-rolled steel coils and steel plates; metal-coated (including galvanized, aluminum-zinc, zinc-aluminum-magnesium) steel coils and steel sheets; color-coated steel coils and steel plates. However, if the price of imported steel (CIF price) is equal to or exceeds a certain limit, no protective tariff will be imposed, specifically: hot-rolled coil steel 675 USD/ton; hot-rolled plate 695 USD/ton; coated steel USD 824 per ton; The price of metal-coated coil/plate (including galvanized, aluminum-zinc, zinc-aluminum-magnesium) is US $861 per ton; the price of color-coated coils and plates (with or without profiles) is US $964 per ton.

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