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Key highlights with respect to the Steel and Aluminum sectors
On Wednesday, 2 April 2025, US President Donald Trump announced reciprocal tariffs on India.
We present the key highlights with respect to the Steel and Aluminum sectors:
- India’s steel and aluminum exports to the US are not subject to the reciprocal tariffs and will continue to be subject to 25% tariff, made universally applicable to all countries effective from 12 March 2025.
- While this may have limited impact on the domestic Indian steel and aluminum industry given the overall size of exports of these products to the US, nonetheless, global supply shifts in due course could have an adverse impact.
Please note that this is a developing issue, and the analysis will evolve subject to new information.