The new tariffs may adversely impact India’s booming exports in various sectors, but it could still remain competitive as China, Vietnam, Taiwan and Thailand face even higher tariffs
India, however, is likely to be relatively less impacted among Asian economies as other countries have been hit by higher tariff rates or run a larger trade surplus with the US
The EU measures will cover goods from the US worth 26 billion euros ($28 billion), and not just steel and aluminum, but also textiles, home appliances and agricultural goods
When you are at a stage of development when your own industry has to grow, you will tend to make sure that, as per the WTO norms, whatever is the trade tariff which you can levy... you will levy, says Union Finance Minister
The tariff is expected to slash steel exports to the US by 85 per cent, creating a massive surplus that will likely flood India which is one of the few major markets without trade restrictions, says industry body
The real task for world leaders is de-risking Trump’s tariff tornadoes and the collateral damages of how he views European allies and partners in the Indo-Pacific region
The rating agency says steel producers will face increased challenges in exporting their products after the US decision to impose an additional 25 per cent tariff on all steel and aluminium imports
