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India needs to be watchful of any trade diversion risk due to steel tariff challenges
The Political and Business Daily
|June 02, 2025
INDIA needs to be watchful of any increased risk of trade diversion into the country due to changing global tariffs, top steel industry executives said reacting to the tariff-related announcement by the US.
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Major steel players JSW Steel and AMNS India said there is a need to implement necessary trade measures proactively as every country is protecting their industry.
US President Donald Trump on Friday told Pennsylvania steelworkers that he would double the tariff on steel imports to 50 per cent to protect their industry, a dramatic hike that could further increase prices for a metal used to make housing, autos and other goods.
In a post later on his Truth Social platform, he said aluminium tariffs would also be doubled to 50 per cent, and both tariff hikes would go into effect Wednesday.
Denne historien er fra June 02, 2025-utgaven av The Political and Business Daily.
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FLERE HISTORIER FRA The Political and Business Daily
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