Kolkata, June 2 -- The proposed 50 percent tariff on all foreign steel and aluminum by US President Donald Trump could hurt India's engineering exports, as these metals and their derivatives account for nearly a quarter of the country's total engineering goods shipments to the US, according to EEPC India.
The annual export of steel, aluminum and their derivatives to the US currently stand at around $5 billion.
" The 25 percent tariffs imposed by the US on steel imports (as per the proclamation order dated on 18th March 2025) have created a challenging environment for Indian steel exporters," EEPC India chairperson Pankaj Chadha said on Monday.
Although India's direct steel exports to the US are relatively low, the tariffs have led to inc...