India’s steel and aluminum exports to be excluded from US' 232 tariffs
The US has agreed most of India’s steel and aluminum products can be exported to the US market and excluded from the restrictions of Section 232 tariffs.
It was understood that at least 70% of steel and 80% of aluminum from India could get market access to the US. However, the relevant details haven’t been released, so the exact steel and aluminum products from India which get exemptions are still unknown.
In the fiscal year 2018-29, India’s steel exports to the US dropped by 35% year on year due to the Section 232 tariffs.
Since June 2018, India’s steel and aluminum exports have been restricted by prior President Trump’s 232 measure, which imposes 25% on steel and 10% on aluminum products.
