(FE)
US President Donald Trump’s announcement that he plans to impose a 25% tariff on all steel and aluminium imports is expected to have a ripple effect on the global steel market, potentially increasing the threat of steel dumping in the country, according to domestic steel manufacturers.
Industry executives said that while India is not among the top steel exporters to the US, the move is likely to force countries with higher export exposure to the US — such as Canada, Mexico, Brazil, and South Korea — to seek alternative markets, with India being a primary destination.
Industry executives added that this could lead to an oversupply situation in India, further pressuring domestic steel prices that are already under strain due to rising imports from China. “The US, a major steel importer, has historically imposed strict trade restrictions, with over 30 remedial actions in force against Indian steel — some for more than three decades. This latest tariff is expected to slash steel exports to the US by 85%, creating a massive surplus that will likely flood India — one of the few major markets without trade restrictions presently,” said Naveen Jindal, president, Indian Steel Association (ISA).