Investing.com -- India has implemented a temporary 12% tariff, also referred to as a safeguard duty, on certain steel products to control rampant imports, as per a government announcement on Monday.

India, recognized as the world’s second-largest crude steel producer, has clarified that these tariffs will be in effect for a period of 200 days starting from Monday. The imposition of this safeguard duty aims to regulate the unrestricted flow of steel imports into the country.

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