President of the Indian Steel Association: The United States will suffer the consequences of excessive tariffs, and we will wait and see what happens

Naveen Jindal, president of the Indian Steel Association (ISA), recently expressed strong concern about the US government's decision to impose a 25% tariff on imported steel, believing that this move will disrupt global trade and ultimately hurt the United States itself. Jindal pointed out that the US move could lead to a global oversupply of steel, which in turn could lead to price falls and market chaos. He stressed that the Indian steel industry will closely monitor developments and called on the Indian government to take diplomatic action to seek the cancellation of long-standing anti-dumping and countervailing measures by the United States, while seeking exemptions from new restrictive measures. In addition, Alok Sahay, secretary general of the Indian Steel Association, also expressed similar concerns, pointing out that the US's imposition of tariffs on Chinese steel may lead to a shift in Chinese steel exports to the Indian market, further impacting India's domestic steel industry. He called on the Indian government to impose additional tariffs on imported Chinese steel to curb the impact of cheap steel on local industries.​

Faced with the US's protectionist measures, Indian steel industry leaders unanimously agreed that these policies will have a negative impact on the global steel market and may also have adverse consequences for the US economy itself. They stressed that India will continue to closely monitor global trade dynamics and take necessary measures to protect the interests of its own steel industry.