Bigger India
US decision to increase tariffs on steel imports will not affect India
Steel secretary Aruna Sharma said the country has only 2% exports to America and there will not be any immediate effect.
United States President Donald Trump’s decision to impose curbs on steel imports will not have any immediate impact on India, Steel Secretary Aruna Sharma said on Friday. The US on Thursday announced that from next week it will levy 25% tariff on steel imports and a 10% tariff on imported aluminium.
The United States cited Section 232(b) of its Trade Expansion Act, 1962, to levy such hefty tariffs to protect American producers of steel. This section of the law gives the US Commerce Secretary the right to investigate whether certain imports pose a threat to national security.