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US tariffs may hit Indian steel, aluminium exports: Government

India's exports of steel and aluminium products may become costlier and uncompetitive in the American market due to the US decision to impose duties on such goods, the government has said.

Published: 29th March 2018 08:31 PM  |   Last Updated: 29th March 2018 08:31 PM   |  A+A-

Image of wire rod for representational purpose (Courtesy: krakatausteel.com)

By PTI

NEW DELHI: India's exports of steel and aluminium products may become costlier and uncompetitive in the American market due to the US decision to impose duties on such goods, the government has said.

The US has imposed duty of 25 percent and 10 percent on certain steel and aluminium imports.

The decision was effective from March 23.

India has already requested the US for an exemption to its steel exports, Minister of State for Commerce and Industry C R Chaudhary said in a written reply in the Rajya Sabha yesterday.

"Though it would be difficult to estimate what would be the quantum of impact on Indian steel and aluminium exports, the Indian exports may become costlier and uncompetitive in the US market especially against other countries who are exempted from levy of tariff by the US," he has said.

He added that the protectionist measure on steel and aluminium is not in the best interest of furthering global trade.

Iron and steel exports to the US stood at USD 309.18 million during April-January this fiscal.

On the other hand, shipments of articles of iron and steel aggregated at USD 1.35 billion during the same period.

He said that the duties imposed by the US is beyond the bound rate committed by America to the World Trade Organisation (WTO).

In a separate reply, the minister said India has raised this issue with the US highlighting that Indian steel exports are primarily of those items which are not domestically produced in the US and in no way threaten American industry.

"The government has urged the US to exempt India from these tariffs," he said.



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