New Delhi, March 4 -- Union minister for steel and heavy industries H.D. Kumaraswamy on Tuesday said the government will "wait and watch" how Donald Trump's 25% tariffs on steel and steel products affect Indian businesses and then devise a trade strategy.

There is no clarity on the nature of tariffs to be imposed by the US, the minister said, speaking to reporters on the sidelines of an automotive industry event in New Delhi, adding that India would ready a trade strategy once the details are known.

In February, the US removed the tariff exemptions or preferential market access provided to Canada, Brazil, Mexico, South Korea, Japan, Argentina, Australia, Ukraine, and the European Union (EU) and announced a flat 25% levy for all countrie...