Double trouble on steel imports

US, the world's largest steel importer, has decided to increase steel and aluminum tariff to 50 per cent. As a result, the new tariffs will likely increase steel prices across the board, hitting industry and consumers alike

- PRESS TRUST OF INDIA

US President Donald Trump Friday told Pennsylvania steelworkers that he's doubling the tariff on steel imports to 50 per cent to protect their industry, a dramatic increase that could further push up prices for a metal used to make housing, autos and other goods.

US President Donald Trump's announcement to double tariffs on imported steel and aluminium will impact Indian export-ers, particularly those engaged in value-added and finished steel products and auto-components, experts say.

Expressing concern over the ‘Trump-administration's move, they said the Indian govern-ment should take up the matter bilaterally with US authorities.