Traditionally steel has been travelling (exporting) from Asian countries to the US and Europe. Some steel was being exported to the US from Europe. Once the reciprocal tariffs take effect, such exports would become unviable.
“That will mean Asian countries — China, South Korea, Japan — that are exporting to Europe, that steel becomes free and will be floating around in the world. This floating trade might come to India,” he said.
When asked if the tariff will impact India’s exports of steel to the US, the chairman said it will not affect much as the commodity’s outbound shipment is not in large quantity.