US Tariffs on Steel and Aluminium: Impact and India's Negotiation Strategies

The US has imposed additional import duties on steel and aluminium, affecting global exporters without exemption. India's government is evaluating the impact of these duties and engaging with the US to enhance bilateral trade. Both nations aim to deepen economic ties, targeting USD 500 billion trade by 2030.

The US has imposed new import tariffs on steel and aluminium, a move affecting global exporters, including India, as it comes without any exemptions. On Friday, the government's evaluation of these duties' impact was discussed in Parliament.

The Minister of State for Commerce and Industry, Jitin Prasada, informed the Rajya Sabha that these tariffs represent an increase over existing ones, with no major exporting countries receiving exemptions. While the US hasn't applied reciprocal tariffs on India, both nations remain in dialogue to enhance and diversify their trade relations.

India and the US have an ambitious goal to boost trade to USD 500 billion by 2030 by negotiating a broad Bilateral Trade Agreement. This agreement aims to expand market access and address trade barriers. Additionally, India is ensuring its trade policies protect domestic industries and farmers' interests against foreign competition.