New Delhi, after April 16 (PTI), another large steel player, AMNS India, has attracted attention.
“The domestic steel industry needs trade protectionism.”
He made remarks when asked about the impact of last month’s announcement by U.S. President Donald Trump on the 25% tariffs on India’s domestic steel and aluminum sectors.
Earlier, Sail Chairman Amarendu Prakash, said that the U.S. imposition of higher tariffs could change the global “trade flow”, thereby increasing India’s chances of becoming increasingly vulnerable to steel imports, as exports to the U.S. could shift its freight in the domestic market.
Dahl said China is the largest steel producer in the world – one of the U.S. steel states, and if it can’t find a market, it will have to transfer its products somewhere.
India’s imports are getting higher and higher (FY25) as China produces more than 1 billion tons of steel. Their domestic consumption has not kept up with the increased ability. Last year, they exported 110 million tons of steel.
The officials said the countries are traditionally exporting to develop their own steel capabilities. India has also developed its own steel capabilities. Therefore, now the market has no appetite for any imported steel.
Dahl also said India’s steel industry is expected to have a 25% security tax. However, the Department of Commerce’s investigation department, the General Administration of Trade Therapy (DGTR), recommends imposing a 12% temporary safeguard tax on certain steel products to protect certain steel products, aiming to protect domestic participants from imports.
The final decision to impose an obligation will be taken by the Ministry of Finance.
Steel industry experts say India’s steel imports can be reduced by 50% in fiscal 26, while domestic manufacturers’ profitability is expected to increase if the government imposes a guarantee tax on inbound goods.
President Trump announced reciprocity tariffs on approximately 60 countries on Wednesday (April 2, 2025) with historic measures to offset higher tariffs imposed on U.S. products worldwide. However, tariffs have been put on hold until July 9.
Recently, Tata Steel officials told PTI that the company is evaluating the situation, which is too early.
Senior officials at Jindal Steel and Power Ltd (JSPL), owned by Naveen Jindal, said the company is closely monitoring the impact of the U.S. announcement and will share its comments at the right time.
