NEW DELHI, Sept 11 (Askume) – India will impose tariffs of 12% to 30% on some steel products imported from China and Vietnam to protect and boost local industries, an order from the Indian Finance Ministry showed.
An order issued by New Delhi on September 10 said,Welded stainless steel pipes exported from China and Vietnam, the world’s biggest steel producers, will be taxed over the next five years.
Relations between the world’s two most populous countries have been strained since their troops clashed along a disputed Himalayan border in 2020, leading New Delhi to step up scrutiny of Chinese investment and halt key projects.
However, Indian Foreign Minister S. Jaishankar said on Tuesday that New Delhi has “not closed the door to trade with China ” but stressed that the question is in which sectors and on what terms Beijing allows trade, though he did not elaborate.
The Indian government in August initiated an anti-dumping investigation into certain steel products originating from Vietnam .
Chinese President Xi Jinping met Vietnam’s new leader Lam Su in Beijing last month , signaling his desire to expand trade and investment despite occasional border clashes in the South China Sea.
