Indian stainless steel exports could suffer serious setbacks leading to disruptions in global supply chains and increased costs for manufacturers and consumers alike as a result of the US imposition of tariffs, the Indian Stainless Steel Development Association (ISSDA), the representative body of domestic producers, said on Thursday, February 13.
“The higher tariffs proposed by the Trump Administration are a dual blow to the Indian stainless steel sector, by not only limiting market access but also intensifying global competition,” ISSDA president Rajamani Krishnamurti said in the statement.
“The tariffs will severely limit market access while escalating global competition. Indian manufacturers have consistently supplied the US with high-quality, sustainable, and cost-effective stainless steel. The imposition of further trade barriers would stifle growth, hamper job creation, and strain bilateral trade relations between the two key global economies,” he said.
“As diplomatic and trade negotiations between India and the US unfold, it is imperative that fair market access is prioritized, ensuring a level playing field for all. Free and fair trade must remain at the forefront of these discussions to safeguard the stability and growth of the global stainless steel industry,” he added.