Government mulls doubling safeguard duty on steel from 12% to 24% |...

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Government mulls doubling safeguard duty on steel from 12% to 24%

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The Indian government is considering raising the safeguard duty on steel to 24% from the existing 12% due to concerns about potential circumvention by Chinese companies and the impact on domestic steelmakers. This move comes amid fears of trade diversion as Chinese goods face increased levies in other markets, potentially leading to dumping in India.

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