Trump's proposed 50 pc tariffs on steel, aluminium to have minor impact: Kumaraswamy

A ''minor impact'' is expected from US President Donald Trump's decision to increase tariffs on steel and aluminium imports to 50 per cent, Union Minister HD Kumaraswamy on Monday said, citing limited exports of the two metals from India.

Responding to a question, the minister for steel and heavy industries said shipments already on the way to the US from India, reaching after June 4, will have to pay the hiked 50 per cent tariff, as it is expected to take effect from the date.

''Minor impact will be there...A minor problem is there because we are not exporting in a big way. The only thing is, if the consignment, which is already on its way (to the US from India), reaches after June 4, then there is some problem as they have to pay 50 per cent tariffs,'' Kumaraswamy said. He was responding to a question on the tariffs on steel and aluminium announced by the US President.

Trump on Friday told Pennsylvania steelworkers that he would double the tariff on steel imports to 50 per cent to protect their industry, a hike that could further increase prices for a metal used to make housing, autos and other goods.

In a post on the Truth Social platform, he said aluminium tariffs would also be doubled to 50 per cent, and both tariff hikes would go into effect Wednesday.

Trump promised during his election campaign to make the revitalisation of American manufacturing a priority of his second term in office.

India remained a net importer of steel, with the inbound shipments rising over 20 per cent to 8.29 million tonnes during the April-January period of the last fiscal.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)