India slaps additional tax on some Chinese steel imports

NEW DELHI (Reuters) - India has imposed an additional import tax on certain stainless steel flat products from China for five years in order to curb influx of cheaper foreign imports, a government statement said on Friday. The government imposed 18.95 percent countervailing duty on some hot-rolled and cold-rolled stainless steel flat products, a first such levy on a steel product. This is aimed at helping local steel makers benefit when there is surge in imports, it said. (reuters)