Steel, aluminium exports impacted by 50% US tariff, says govt
This story was originally published at 17:06 IST on 16 June 2025
Register to read our real-time news.Informist, Monday, Jun. 16, 2025
--Govt: Looking to conclude first tranche of trade deal with US by fall 2025
--Trade secy: Want to conclude an early tranche of US trade deal by Jul 9
--Govt: Steel, aluminium exports impacted by US tariffs
NEW DELHI– India's exports of steel and aluminium have "definitely" been impacted by the 50% tariff imposed on the metals by the US, Rajesh Agrawal, additional secretary in the commerce ministry and commerce secretary-designate, said Monday. Although India's exports of steel and aluminium to the US are not very high, the higher tariff has had an impact on the sector, Agrawal said.
Washington, which imposed 25% duty on the metals in February, doubled the tariff to 50% last month. The US is India's top export destination with a share of over 15% in the country's total outbound shipment. Aluminium and steel exports to the US comprised $4.56 billion of the country's total exports to the US worth $86.51 billion in the financial year 2024-25 (Apr-Mar).
To safeguard India's exports growth against the 50% metal tariff as well as proposed reciprocal duties, New Delhi has been working to sign a trade deal with the US. Agrawal said the two sides aim to sign the first tranche of the pact by the fall of 2025.
But Commerce Secretary Sunil Barthwal said the government is looking forward to signing an interim deal, which would later be part of the first tranche, by Jul. 9. Washington is expected to put the reciprocal tariffs into effect from Jul. 9, which would make India's exports to the US 26% more expensive.
India and the US held a round of negotiations this month in New Delhi. The next round, whose timeline is yet to be decided, will be held in Washington, DC. Meanwhile, officials from the two countries would continue to have conversations in online mode.
End
US$1 = INR 86.06
Reported by Krity Ambey
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
