US steel tariffs India | US aluminium tariffs India | India steel export impact
The United States has increased import tariffs on steel and aluminium to 50%, aiming to bolster domestic manufacturing. While the UK is exempt due to an existing trade agreement, the move could have indirect effects on India.
- Limited Direct Impact: India exports a small portion of its steel to the US, so immediate effects may be minimal.
- Risk of Market Flooding: There’s concern that countries like China might divert excess steel to markets like India, potentially lowering prices and affecting local producers.
- Protective Measures: India has imposed a 12% safeguard duty on certain steel imports to mitigate such risks.
👉 Why this matters: Understanding these dynamics is crucial for stakeholders in India’s steel industry to navigate potential challenges. m.economictimes.com
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