India Braces for Trade Shift Amid Rising Global Tariffs
India faces potential trade diversions due to new US tariffs on steel and aluminum imports. Top steel industry leaders stress the importance of proactive trade measures to protect domestic production. With rising imports and declining exports, India remains a net importer of steel, prompting calls for protective policies.
- Country:
- India
Top steel executives warn of potential trade diversions into India following new US tariff hikes on steel and aluminum imports. JSW Steel and AMNS India highlight the need for timely protective measures to safeguard the domestic industry.
The US has doubled tariffs on steel and aluminum to 50%, sparking concerns about global trade shifts. President Trump aims to shield US industries, leading to possible implications for Indian steel production and pricing.
India continues to import more steel than it exports, maintaining its status as a net importer. Industry leaders stress the urgency of protective policies to mitigate risks and ensure a thriving local market amidst global tariff changes.
(With inputs from agencies.)
Advertisement
ALSO READ
JSW Steel's Profit Rise Amidst Strategic Financial Moves
JSW Steel Faces Legal Hurdle as Supreme Court Orders Liquidation of Bhushan Steel and Power Ltd
JSW Steel Shares Rise After Supreme Court Halts BPSL Liquidation
AMNS India Launches Innovative Optigal Steel Range to Meet Growing Demand
JSW Steel Eyes Mongolian Coking Coal Amid Logistical Hurdles
Google News