India Declines Proposal for Countervailing Duty on Imported Chinese Steel Products

  • India decides not to impose a countervailing duty on select steel products imported from China.
  • This decision goes against recommendation by the Directorate General of Trade Remedies to impose 18.95% tax on certain Chinese flat-rolled steel products for five years.
  • The finance ministry’s move aims to shield steel consuming firms from price hikes but could harm local steel manufacturers.
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