U.S tariffs on steel to hit Indian market, says ISA

Indian Steel Association has raised concerns that the U.S move to raise import tariffs will encourage surplus nations to divert their steel exports to consuming nations like India affecting the local markets.

ISA represents major public and private sector steel players in the country.

U.S President Donald Trump said on March 1 that he would impose 25 per cent import tariff on steel and 10 per cent on aluminium to protect U.S producers.

The apex industry body has raised concerns that imposition of steep tariffs on import by the US will adversely affect the domestic steel industry.

“Tariffs by the U.S will inevitably encourage steel-surplus nations to divert their exports to vibrant consumption centres like India and distort our domestic markets considerably,” ISA said.