US aluminium tariff hike unlikely to impact India directly
Donald Trump has last week signed two proclamations that imposed 25% tariff on imported steel and 10% on aluminium, a move that is likely to foment a global trade war.business Updated: Mar 11, 2018 14:42 IST
The US move to impose tariffs on aluminium imports may not have considerable direct impact on Indian metal industry, aluminium manufacturers said.
The US decision to impose 10% tariff on imported aluminium may not have significant direct impact on Indian aluminium industry, but it may have resultant impact due to increased availability of export volume for ex-America global market, Aluminium Association of India chairman TK Chand told PTI.
Chand is also the chairman and managing director of Aluminium major Nalco.
Vedanta Ltd, which is also a leading aluminium producer, said the company exports around 5%, 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% duties,” Vedanta Ltd Chief Sales & Marketing Officer (Global Aluminium Business) Jean-Baptiste Lucas 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% tariff on imported steel and 10% on aluminium, a move that is likely to foment a global trade war.
First Published: Mar 11, 2018 14:33 IST