India Steel Pipe Makers 'Happy' with 286% U.S. Customs Duty

Imposing tariff barriers to block cheaper imports are always perceived protectionist in nature. But here's one with a twist.

Leading Indian steel pipe makers like Welspun, PSL Ltd are "happy" that the US Commerce Ministry has imposed a jaw dropping 286 per cent duty on some the products they exported to US — one of the largest consumption markets.

This has been done to safeguard the local American pipe-makers from imports from India. To stop a similar trend from Vietnam, an eight per cent duty on similar products has also been imposed.