BHUBANESWAR: The Indian Steel Association (ISA) has raised serious concern over US President Donald Trump’s announcement to impose tariffs on steel imports to the country and urged the government of India to take urgent diplomatic action to prevent it.
ISA president and chairman of Jindal Steel and Power Naveen Jindal said the move will disrupt global trade and intensify challenges for the steel industry in the country.
“The US, a major steel importer, has historically imposed strict trade restrictions, with over 30 remedial actions in force - some for more than three decades against Indian steel. This latest tariff is expected to slash steel exports to the US by 85 per cent, creating a massive surplus that will flood India, one of the few major markets without trade restrictions presently,” he said in a statement.
India’s carbon steel exports to the US are already negligible due to long-standing anti-dumping duty (ADD) and countervailing duty (CVD) measures. This decision, Jindal said, will only add to the misery and aggravate the situation further.
“With the US shutting its doors to global steel, the surplus will inevitably be redirected to India, threatening our domestic industry with market distortions, price crashes, and unfair competition,” he said.
Jindal urged the government of India to push for the removal of long-standing ADD and CVD duties and secure exemptions from restrictive measures.