DGTR for 12% safeguard duty on select steel items

But MSMEs fear escalation in domestic prices, call for import quota

- SHREYA NANDI

The Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce and Industry, has recommended a 12 per cent safeguard duty on certain steel products for 200 days to protect the domestic industry from what it describes as "serious injury" caused by a recent surge in such imports.

The recommendation, which requires approval from the Department of Revenue in the finance ministry, comes amid concerns of further increases in steel imports following the 25 per cent tariff on steel and aluminium imposed by the United States on March 12.

A safeguard duty is a temporary tariff imposed to shield a domestic industry from a sudden surge in imports.

The DGTR report emphasised the urgency of implementing the measure, warning that any delay could cause irreparable damage. "There is a necessity for immediate application of provisional safeguard measures," it stated.