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As the crisis deepens, countries like India and those in the European Union have also initiated protective measures. India introduced a 12% safeguard duty to protect its domestic producers, coinciding with a record-high import of Chinese steel. The European Union has adopted a more aggressive stance, imposing anti-dumping duties and reducing import quotas while initiating investigations into steel products deemed unfair.
Collectively, these countries represent significant markets that have traditionally consumed large quantities of Chinese steel. The blockades on imports signify a shift towards a protective global stance where national interests supersede international trade agreements.