Trump tariff effect: Japan, Korea raise steel exports to India
India is being hit by a wave of steel from producers in Japan and South Korea, a government document showed, as mills there redirect supply after US President Donald Trump slapped an import duty on the alloy earlier this year.
During the first quarter of the fiscal year starting in April, India’s steel imports from South Korea rose 31% from a year earlier, while those from Japan climbed 30%, according to an internal document from the steel ministry that was reviewed by Reuters.
The flood of imports is so big that the Central government is considering measures to control imports, Minister Chaudhary Birender Singh told Reuters. “The concern is there, of course, and if we are to take some measures, we will not hesitate on that account,” Singh said in an interview.
