Impact of Double Tariffs on Indian Steel Exports
US President Donald Trump's decision to double tariffs on imported steel and aluminium threatens Indian exporters, particularly those dealing in value-added steel products and auto-components. The move raises concerns about the impact on India's export market, prompting calls for bilateral negotiations to address the issue.
- Country:
- India
US President Donald Trump's recent announcement to double tariffs on steel and aluminium imports spells trouble for Indian exporters, especially in the value-added steel and auto-components sectors, experts warn.
The tariffs, effective from June 4, could significantly affect India's market competitiveness. The Federation of Indian Export Organisations (FIEO) calls for bilateral discussions.
The Global Trade Research Initiative indicates that the increased tariffs challenge Indian exports worth billions, pushing Indian firms to consider market diversification and higher-grade product investments.
(With inputs from agencies.)
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