The Independent Congressional Research Service (CRS) in its latest report said, India’s aluminium export to the US increased by 58% to $221 million in 2018 whereas steel’s export has drop by 49% to $372 million.
In 2018, the US imports of aluminium products mount up $17.6 billion and that of steel $29.5 billion. Adding to the reports, the imports of aluminium over the past decade have increased predominantly and of steel have fallen materially.
The massive slump in US aluminium imports were from China (-$ 729 million, -40%), Russia (-$ 676 million, -42%), and Canada (-$ 294 million, -4%) with considerable rise from the EU (+$ 395 million, 9%), India (+$ 221 million, 58%) and Oman ($ 186 million, +200%),” added by the reports.
The massive slump in US steel imports were from South Korea (-$ 430 million, -15%), Turkey (-$ 413 million, -35%) and India (-$ 372 million, -49%) with considerable rise from the EU (+$ 567 million, +22%), Mexico (+$ 508 million, +20%) and Canada (+$ 404 million, +19%),” added by the reports.
The countries with constant expulsion from the tariffs (all excluding Australia are instead subject to quotas) constituted for 4.4% of US aluminium imports in 2018.
President Donald Trump implement Section 232 previous year to apply new tariffs to steel and aluminium imports and likely on automobile and auto parts and other sectors are currently under consideration. Some members of the convention have proposed acts to alter various authorities of Section 232 as these steps has increased a number of policy issues.