Sri Lanka, Brazil, Thailand and Vietnam to be hit harder than India by US metal tariffs

India ranked as the eighth-largest exporter of steel, iron, and aluminium products to the US, with total exports valued at $4.2 billion heading to America, while Sri Lanka, Brazil, Thailand and Vietnam have a greater share direct exports.

Developing economies such as Sri Lanka, Brazil, Thailand and Vietnam are likely to bear the brunt of additional US tariffs on steel and aluminium more so than India, according to a Moneycontrol analysis. In 2023, only 14.6 percent of India’s steel and aluminium exports were directed to the United States, while for Brazil, the share was significantly higher at 41.4 percent. Sri Lanka’s dependence was nearly as steep, with 39.5 percent of its metal exports going to the US. Canada and Mexico each had over 80 percent dependence on the American market two years ago…..| read more on  Money Control