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Think Tank Global Trade Research Initiative (GTRI) said on Saturday (GTRI) on Saturday (GTRI) (GTRI) said (GTRI) said (GTRI) said (US President Donald Trump announced dual tariffs on imported steel and aluminum, which will affect Indian exporters, as this will damage their profitability. “
On May 30, Mr. Trump announced that he would double the current 25% tariff on steel and aluminum imports from June 4. This increase falls under Section 232 of the 1962 American Trade Extension Act, a law that allows the President to implement tariffs or other trade restrictions if imports are considered to be a threat to national security.
Mr. Trump originally applied this provision to set 25% tariff on steel and 10% tariff on aluminum. He increased the tariff on aluminum by 25% in February 2025. “For India, the results are direct,” (GTRI) said.
In 2024–25, India exported $ 4.56 billion iron, steel and aluminum products to the US, including $ 587.5 million in iron and steel, $ 587.5 million in iron and steel, $ 3.1 billion in iron or steel articles and $ 860 million in aluminum and related articles.
GTRI founder Ajay Srivastava said, “These exports are now rapidly in touch with high American tariffs, threatening profitability of Indian producers and exporters.”
India has already issued a formal notice in the World Trade Organization (WTO), which indicates the intention of imposing anti -anticonvil tariff on American goods in response to earlier steel tariffs. He said, “Trump now doubles the tariff, it remains to be seen whether India will take vengeance on some American exports within a month,” he said.
Published – May 31, 2025 02:40 pm IST