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According to Indian media reports, the rise in tariffs imposed by the Trump administration on imports of steel and aluminum products in the United States has begun to have an impact on Indian steel exports, which fell by 42%
in the first quarter of this fiscal year (April-June).
However, surprisingly, while steel exports declined rapidly, aluminum exports from India to the United States surged by 59%.
It is speculated that Indian aluminum products still have a comparative advantage
in cost compared to aluminum products from Canada, Mexico and China after tariff increases.
From April to June this year, exports of 68 steel products subject to a 25% rate hike were $115 million, while aluminum projects with a 10% rate hike in July were worth $164 million
in the April-June quarter.
According to Indian media reports, the rise in tariffs imposed by the Trump administration on imports of steel and aluminum products in the United States has begun to have an impact on Indian steel exports, which fell by 42%
in the first quarter of this fiscal year (April-June).
However, surprisingly, while steel exports declined rapidly, aluminum exports from India to the United States surged by 59%.
It is speculated that Indian aluminum products still have a comparative advantage
in cost compared to aluminum products from Canada, Mexico and China after tariff increases.
From April to June this year, exports of 68 steel products subject to a 25% rate hike were $115 million, while aluminum projects with a 10% rate hike in July were worth $164 million
in the April-June quarter.
