India to impose anti-dumping duty on products from China

This should suppress Chinese steel as imports increased by 62%. Such a tariff will benefit domestic producers who have been hit hard by such imports and are facing low capacity utilization. Steel mills are expecting higher production and lower prices following the introduction of a tariff on steel wheels from China. The steel wheel market in India is small, which allows steel manufacturers to enter and lower prices. This also means that local steel manufacturers will be preferred by Indian wheel manufacturers as they will be able to offer more competitive prices. The decision was made after it became clear that Chinese exporters are exporting steel products to other countries at significantly reduced prices