The imposition of tariffs by the US on imports from Mexico, Canada and China will affect the Indian steel industry as the country will become the natural target for cheap Chinese steel at a time when local players are undergoing a major capacity enhancement phase, industry experts said.
The Trump administration imposed 25 per cent tariffs on imports from Mexico and Canada on Tuesday. The US also doubled the tariff on all Chinese imports to 20 per cent.
"USA under the new President has announced new tariffs on China, Mexico and Canada. China is a major steel exporter to the USA. The recently announced US tariffs on steel imports from China means that this export will become unviable and surplus steel will be seeking new markets," former President of Indian Stainless Steel Development Association (ISSDA) Karan Pahuja said.
"India becomes the natural target for cheap Chinese surplus steel at a time when it is undergoing a major capacity enhancement phase. The Indian steel industry is .