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US aluminium tariff hike unlikely to impact India directly

Press Trust of India  |  New Delhi 

The US move to impose tariffs on imports may not have considerable direct impact on Indian metal industry, manufacturers said.

The US decision to impose 10 per cent tariff on imported may not have significant direct impact on industry, but it may have resultant impact due to increased availability of export volume for ex-global market, told PTI.

is also the of Aluminium major Nalco.

Vedanta Ltd, which is also a leading aluminium producer, said the company exports around 5 per cent, which is around 1,00,000 tonnes of its aluminium volumes, to the US market, hence the duties are not a game changer for it.

"Moreover, the market prices will adjust accordingly with higher premiums to reflect the higher cost of supply due to the 10 per cent duties," (Global Aluminium Business) told PTI.

"But, we obviously regret such unilateral decision in breach of WTO rules on a fast growing market, which will continue to be a large net importer of aluminium -- these additional costs will put an extra burden on our US customers that will ultimately make them uncompetitive," Lucas added.

Trump has last week signed two proclamations that imposed 25 per cent tariff on and 10 per cent on aluminium, a move that is likely to foment a global trade war.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, March 11 2018. 13:40 IST
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