Indian stainless steel industry expresses concern on US new tariffs
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Update time : 2025-02-12 17:18:28
The Indian stainless steel industry is worried about US new tariffs, fearing strained trade relations between the two countries and an impact on the domestic market through diverted shipments. The industry anticipated that stainless steel would be a key discussion point between Prime Minister Narendra Modi and US President Trump during their meeting in the US.
The Indian Stainless Steel Development Association (ISSDA) said these tariffs are a dual blow to the Indian industry, limiting market access and intensifying global competition, which could restrict growth and harm job creation. In addition, US new tariffs may lead to a diversion of Chinese and other Asian exports to India, raising competition and pressuring domestic prices.
