US Steel Tariffs: Minimal Impact on India

The US imposition of a 25% tariff on steel imports is expected to have a minimal impact on India, as only about 2% of India's finished steel exports go to the US. However, the tariffs may lead to cheaper steel being diverted to India, potentially lowering domestic prices and affecting local producers. India's steel exports to the US were valued at $450 million in 2024, a small fraction of its total exports.

 

Source: Crisil, The Economic Times, Indian Express