India reviews plans to impose tariffs in response to US measures on steel and aluminum

The Indian Finance Ministry announced that New Delhi is considering a proposal to impose tariffs in response to the US tariffs on steel and aluminum imports, under World Trade Organization rules. India informed the WTO that the tariffs imposed by the Trump administration have hurt Indian exports by $7.6 billion, indicating that the tariffs it may impose on targeted US goods will amount to $3.82 billion. This position comes in response to the US decision to double tariffs on steel and aluminum imports from 25% to 50%. India confirms that it reserves the right to adjust the list of eligible goods and tariff rates as the situation evolves. India's response may include suspending certain trade concessions or commitments by raising tariffs on specific US products. Last May, India proposed imposing similar tariffs on some US goods, as permitted by World Trade Organization rules, to counter the negative impact of US tariffs on the metals sector. At the time, it indicated that the tariffs imposed on its imports of US metal products amounted to approximately $1.91 billion. This move comes amid ongoing trade negotiations between the two sides. An Indian delegation is expected to visit Washington, D.C., next week, where talks will include interim and long-term strategic trade agreements. In a related development, trade data showed that India's imports of rolled products declined by 27.6% year-on-year during April and May of the 2025/26 fiscal year, reaching 0.9 million tons. Rolled steel exports also declined by 18.1% during the same period, reaching 0.8 million tons, with Belgium topping the list of India's largest steel importers.