Lok Sabha Question No. 4025 (UNSTARRED), answered on 2025-03-25
Subject: Impact of US Tariffs on Steel Industry
Ministry: STEEL
Asked by: Shri Saptagiri Sankar Ulaka

## GOVERNMENT OF INDIA MINISTRY OF STEEL

## LOK SABHA

## UNSTARRED QUESTION NO. 4025 FOR ANSWER ON 25.03.2025

## IMPACT OF US TARIFFS ON STEEL INDUSTRY

4025. SHRI SAPTAGIRI SANKAR ULAKA:

Will the Minister of STEEL be pleased to state:

- (a) the details of estimated financial loss incurred by the Indian steel industry due to the imposition of a 25% tariff by the United States on steel imports from India;
- (b)  the  details  of  volume  of  steel exports  from  India  to the US  and  the percentage decline in exports since the implementation of the tariff during the last five years;
- (c) whether the Government is considering any measures to safeguard the interests of Indian steel exporters and mitigate the losses resulting from the tariff, if so, the details thereof; and
- (d)  the  details  of  such  measures,  including  any  negotiations  with  the  US,  trade diversification strategies or policy interventions and if not, the reasons therefor?

## ANSWER

THE MINISTER OF STATE IN THE          (SHRI BHUPATHIRAJU SRINIVASA VARMA) MINISTRY OF STEEL

(a)to(d):   United States imposed additional tariff of 25% on Steel under Section 232 of Trade Expansion Act, 1962 in March, 2018 on a global basis. The details of finished steel export along with percentage change to USA during the last five years and current year is given below:-

| Finished Steel Export to USA                      | Finished Steel Export to USA                      | Finished Steel Export to USA                      |
|---------------------------------------------------|---------------------------------------------------|---------------------------------------------------|
| Year                                              | Quantity (in '000 tonnes)                         | %change                                           |
| 2019-20                                           | 51                                                | - 48.4                                            |
| 2020-21                                           | 27                                                | - 46.7                                            |
| 2021-22                                           | 214                                               | 692.6                                             |
| 2022-23                                           | 165                                               | - 22.9                                            |
| 2023-24                                           | 95                                                | - 42.3                                            |
| 2024-25 (Apr-Feb)*                                | 137                                               | 44.21                                             |
| Source: Joint Plant Committee (JPC); *Provisional | Source: Joint Plant Committee (JPC); *Provisional | Source: Joint Plant Committee (JPC); *Provisional |

The Government of India continues to engage with the Government of United States to achieve enhancement and broadening of bilateral trade ties in a mutually beneficial and fair manner. Both nations released a joint statement on February 13, 2025, reaffirming their commitment to deepening economic ties. Under the ambitious "Mission 500", both countries aim to more than double US-India trade to USD 500 billion  by  2030  to  be  achieved  by  deepening  the  trade  relationship  across  multiple sectors including steel.

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