The US will resume imposing tariffs on Indian steel and aluminum products from April 2, 2025, and the aluminum industry will be greatly affected. The US is the second largest export market for India's aluminum products, with exports reaching US$946 million in the fiscal year 2023-24, accounting for 12% of the total. US’ tariffs may lead to reduced exports and lower prices, forcing Indian companies to turn to European and Southeast Asian markets.
In comparison with aluminum, steel was less affected due to strong domestic demand in India, but the Indian Steel Association still warned that an 85% drop in exports could lead to domestic oversupply and impact prices.
As global trade protectionism heats up, tariff policies of various countries have exacerbated India's export challenges, and the influx of low-priced steel products from China has greatly increased India’s imports.
India's short-term strategy includes seeking exemptions from US tariffs, promoting market diversification, raising import tariffs to prevent dumping, strengthening overseas investment and production layout, as well as boosting domestic consumption and policy support.
India’s aluminum industry to be affected by US’ tariffs
31 Mar 2025 15:26 reported by Joy Liu
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