Trump tariffs to have minimal impact on steel exports, says Kumaraswamy

The direct impact of revised, and now doubled,  US tariffs on bulk and finished steel exports from India is expected to be minimal; while there could be some indirect impact, where excess steel stocks from other countries come in, skewing prices here, said Mr H. D. Kumaraswamy, Union Minister of Steel and Heavy Industries. According to him, when steel-exporting nations face restrictions in the US, they may try to redirect their surplus steel to other regions, leading to increased competition and price pressures in markets. This may have some indirect impact on steel prices, he said. Provisional data available with India’s Steel Ministry shows that in FY25, finished steel imports stood at 9.6 million tonnes (mt), up 15%, while exports were at 5-odd mt, down 35% y-o-y. India was a net importer of steel by 4.6 mt, as per a report.

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