Donald Trump has announced a significant increase in steel tariffs from 25% to 50%, set to take effect from June 4th. The move aims to protect the US steel industry and close loopholes in existing tariff structures. Trump stated, ‘We’re going to bring it from 25 percent to 50 percent, the tariffs on steel, into the United States of America, which will even further secure the steel industry in the United States.’ This decision could potentially impact India’s steel and aluminum exports to the US, valued at $970 million and $475 million respectively.
#trumptariffs #steelindustry #tradewar #itwebvideos #indiatoday #useconomy #globaltrade #tariffhike #aluminumsector
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