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Trump’s proposed 50pc tariff hike May hit USD 5 billion engineering exports: EEPC India
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....rump’s proposed 50pc tariff hike May hit USD 5 billion engineering exports: EEPC India<BR>Customs & Trade<BR>Dated:- 2-6-2025<BR>PTI<BR>Kolkata, Jun 2 (PTI) US President Donald Trump’s proposed 50 per cent tariff on steel and aluminium imports could severely impact India’s engineering goods’ shipments, an engineering exports promotion body has said. These metals and their derivatives cons....
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....titute nearly a quarter of the country’s total engineering shipments to the US, the Engineering Export Promotion Council of India said. Currently, India exports around USD 5 billion worth of steel, aluminium and related products to the US annually. The existing 25 per cent tariff on steel imports, imposed by the US on March 18, 2025, has already created a tough market for Indian exporters, it ....
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....said. While India’s direct steel exports to the US remain limited, the tariffs have intensified global competition and disrupted trade flows. “If the US implements the 50 per cent tariff on steel, aluminium and their derivatives, exports of these critical items will become more expensive, likely leading to a decline in shipments," Chairman of EEPC India, Pankaj Chadha, said. He pointed out ....
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....that the UK recently secured an exemption from the 25 per cent steel and aluminium tariffs through a trade deal with the US, and suggested that India should seek a similar waiver during the ongoing Bilateral Trade Agreement (BTA) negotiations. “This may not be the right time for such unilateral tariffs, especially when BTA talks are underway. It could complicate negotiations. The proposed hike ....
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....could jeopardise engineering exports worth around USD 5 billion,” Chadha said. PTI BSM RBT<BR> News - Press release - PIB....