India’s Small Exporters Seek Import Duty Cuts to Counter US Steel, Aluminium Tariffs

Breaking News

Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis

India’s Small Exporters Seek Import Duty Cuts to Counter US Steel, Aluminium Tariffs

USA 07 Mar 2025 04:02 PM IST Economic Times

India’s small and mid-sized steel and aluminium exporters are urging the government to lower import duties to remain competitive amid rising US tariffs. With the Biden administration tightening trade policies, exporters fear a loss of market share unless India takes corrective measures.

US Tariffs Create New Challenges for Indian Exporters

The US has imposed higher tariffs on select steel and aluminium imports to safeguard its domestic industry. These changes could lead to reduced Indian exports, making it harder for smaller firms to compete globally. Exporters argue that high domestic import duties on raw materials further strain their cost structure.

Industry representatives are pressing policymakers to cut import duties on essential raw materials like ferroalloys and non-ferrous metals. Such a move would help reduce manufacturing costs, making Indian exports more competitive in global markets.

Government’s Response & Industry Outlook

The Indian government is reportedly assessing trade adjustments to support local exporters. If import duty cuts are implemented, it could cushion the impact of US tariffs and ensure sustained export growth. Industry bodies are calling for swift action to protect India’s position in the global steel and aluminium supply chain.

Also Read : US Steel reports 4% increase in steel shipments in 2023 Permian basin deal frenzy slows 2024 oil output growth

Breaking News