By Admin 
Us tarifs on Steel-aluminum: The import duty on steel and aluminum in the US has now been doubled to 50 percent. According to the White House, President Donald Trump has signed it as the latest initiative. However, the rate of tariff over Britain will remain 25 percent as both countries have already reached trade agreement and according to the conditions, tariffs and quota have been determined.
Last week, President Trump, while addressing the workers of the American Steel Plant in Pennsylvania, announced to double the tariff on steel and aluminum. Trump had said that no one will be able to steal your industry.
Now double tariff on aluminian and steel
Under Section 232 of the US Trade Expenses Act 1962, President Trump has doubled the tariff on steel and aluminum from 25 percent to 50 percent. The thing to note here is that during his first presidential tenure, Donald Trump increased the tariff on steel to 25 percent and 10 percent on aluminum. But this year, the tariff on aluminum was increased to 25 percent.
This decision of President Trump will have a great impact on India as about 4.56 billion steel and aluminum were exported to America last year. Indian steel demands were increasing rapidly in American. In such a situation, after this tariff, steel prices will now become expensive in American and it will directly affect the export from India.
India raised answers steps
Here, India has also prepared to impose counter -fees in lieu of American tariffs. In the notice sent to the World Trade Organization i.e. WTO, India has told about the increase in tariff rates on goods imported from America. However, the final decision has not been taken to apply to it yet. Now that Trump has increased the tariff on steel and aluminum, it has to be seen when India increases the tariff on goods imported from America as a response step.
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