Why the new US steel tariff could affect Indian steel companies
India ranked 10th in steel imports to the US in 2017, but it recorded the highest growth in this leading set of countries and drew the third-most instances of penal duties.
US steel imports by country
In calendar 2017, India was the 10th largest importer of steel in volume terms to the US, accounting for 2.2% of 34.5 million metric tonnes. And the US accounted for about 5% of India’s steel exports.
Growth in US steel imports in 2017
India might have been ranked 10th, one spot above China. But in this set of top 11 steel importers to the US, India grew the fastest by a long way, more than doubling volumes between 2016 and 2017.
US trade remedies in effect against steel mill imports
Even before this new steel tariff, the US had imposed additional duties on steel imports from some countries. In this set of 11, the number of such duties slapped on India was the third-highest, after China and South Korea.
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