Will Trump's tariffs affect India..!?

The order issued by President trump imposing a 25 percent tax on steel and aluminum imported into the united states has had a major impact internationally. trump, who has been sworn in as the President of the united states, has been continuously issuing drastic orders. In that way, he is increasing taxes on goods imported from various countries. It is in this situation that he has said that a 25 percent tax will be imposed on steel and aluminum imported into the United States. donald trump is confident that this will increase the cost of importing these metals in the united states, so American companies will start purchasing these from local steel and aluminum manufacturing companies, which will lead to growth in the domestic industry. However, it is said that this announcement by donald trump will change the course of trade with various countries including India.
Most of the steel used in the united states is imported from its neighbors mexico and Canada. It also imports from Japan, South Korea, and Germany. Although china is the world's largest steel producer and exporter, the country exports a small amount of steel to the United States. In 2018, the US government imposed a 25% tariff on steel imported from china, which has led to Chinese companies leaving the US market. The US largely relies on foreign countries for aluminum. Almost half of the aluminum used in the US is imported from foreign countries. In particular, 3.2 million tons of aluminum were imported from canada last year alone. Next, 3.47 lakh metric tons were imported from the United Arab Emirates and 2.22 lakh metric tons from China.

 It is said that this announcement by trump may also affect India's steel and aluminum industries to some extent. Although india is not among the leading countries that can export steel and aluminum to the US, it has imported 2 lakh metric tons of steel from india in 2024, and the US has imported 1.60 lakh metric tons of aluminum products from india in 2024. For india, the US is seen as a major market for iron, steel, and aluminum exports. Experts say that the announcement regarding the increase in import duties will also affect indian industries.
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Sowmiya Sriram

13/02/2025 03:11 PM