FIEO worried over US tariff hikes on steel, aluminium
New Delhi: The Federation of Indian Export Organisations (
FIEO
) Saturday raised concerns about potential disruption to India's steel and aluminium exports to the US after President Donald Trump's announcement of a plan to double import tariffs on steel and aluminium to 50% from 25%. They particularly fear that the exports of value-added and finished steel products and auto-components, stainless steel pipes, and structural steel components could be hurt.
This potential increase comes under Section 232 of the US Trade Expansion Act of 1962, a law that allows the president to impose tariffs or other trade restrictions if imports are deemed a threat to national security.
"These products are part of India's growing engineering exports, and higher duties could erode our price competitiveness in the American market," said SC Ralhan, president, FIEO.
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India exported approximately $6.2 billion worth of steel and finished steel products to the US in FY25 including a wide range of engineered and fabricated steel components and about $0.86 billion of aluminium and its products. The US is among the top destinations for Indian steel manufacturers, who have been gradually increasing market share through high-quality production and competitive pricing.
Exporters said that though the decision stems from domestic policy considerations in the US, such sharp increases in tariffs send discouraging signals to global trade and manufacturing supply chains.
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India and the US are negotiating a
Bilateral Trade Agreement
and exporters said that the move will complicate the talks.
"It's unfortunate that while BTA negotiations are going on, such unilateral tariff increases should be done. It only makes the work of the negotiators much more difficult and complicated. This will definitely impact the engineering exports, which are about $5 billion under this head," Pankaj Chadha, chairman EEPC India.
Chadha added that since the UK has been given exemption from Section 232, the same exemption should also be given with TRQ restrictions to India.
"We urge the government to take up the issue at the bilateral level to ensure that Indian exporters are not unfairly disadvantaged...as 25% additional duty will be a huge burden, which is difficult to be absorbed by the exporter/importer," Ralhan said.
On March 8, 2018, the US promulgated safeguard measures on certain steel and aluminium articles by imposing 25% and 10% ad valorem tariffs respectively on such products with effect from March 23, 2018. On February 10, 2025, it revised the safeguard measures on imports of steel and aluminium articles, effective from March 12.
New Delhi said that the US failed to notify the WTO Committee about a decision to apply safeguard measures and as an affected member with significant export interest, it has requested consultations with Washington and proposed retaliation against the measure.
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