Tata Steel is closely monitoring developments surrounding the threat of new import duties on steel and aluminium from American President Donald Trump.
The United States is an important market for the steel company from IJmuiden, with approximately 12 percent of total annual sales going to it. According to a spokesperson for Tata Steel, this amounts to 800,000 to 900,000 tons of steel per year going to the US. “That is not insignificant,” the spokesman said.
Trump has threatened to impose 25 percent duties on steel and aluminium imported from abroad. “Import duties always impact our sales abroad. If higher tariffs are imposed there, it will affect us. Although not yet known, we are preparing for all possible scenarios.
The steel company supplies steel for electric car batteries, high-quality packaging steel and other advanced steels in the US.
During his first term, Trump imposed 25 percent tariffs on steel and 10 percent on aluminum. At that time, Tata was granted an exemption from the import tariffs. It is not known whether there will be another exemption. “We do not yet know which way it will go, so we are keeping a close eye on it,” the Tata spokesperson said.