India's Ministry of Finance issued an announcement on December 30 stating that the country will continue to levy tariffs on some imported steel products for a period of three years, with a tax rate between 11% and 12% during this period. According to this collection scheme called Safeguard Tariff, the tax rate was 12% in the first year, reduced to 11.5% in the second year, and 11% in the third year. Since April of this year, the Indian government has imposed a temporary 12% tariff for 200 days.

India's Ministry of Finance issued an announcement on December 30 stating that the country will continue to levy tariffs on some imported steel products for a period of three years, with a tax rate between 11% and 12% during this period. According to this collection scheme called Safeguard Tariff, the tax rate was 12% in the first year, reduced to 11.5% in the second year, and 11% in the third year. Since April of this year, the Indian government has imposed a temporary 12% tariff for 200 days.