India’s steel and aluminium exports to the U.S. could lose $1 billion due to proposed U.S. tariff hikes.
The U.S. plans to double the current 25% tariff under Section 232 to 50%.
India exports about $5 billion worth of steel, aluminium, and related products annually to the U.S.
Indian exporters face uncertainty and want to explore other markets.
EEPC India is requesting the government to seek tariff exemptions from the U.S., like the one given to the U.K.
U.S. steel prices are already high compared to EU and China; tariffs may push them even higher.
Higher tariffs will impact U.S. industries like automobiles, construction, and manufacturing.
India exported $4.56 billion in iron, steel, and aluminium products to the U.S. in FY25.
India has threatened retaliatory tariffs at the WTO in response to previous U.S. tariffs.
India imports nearly $2 billion worth of steel and aluminium products from the U.S.
The tariff hike will particularly affect semi-finished and finished steel products, harming India’s export competitiveness.
Industry leaders urge the Indian government to negotiate with the U.S. to protect exporters.
Sharp tariff increases harm global trade and supply chains.
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