US tariffs on steel & aluminium come into effect; MSMEs to be hit

While large steel players that produce carbon steel products may not see any major impact, since exports of such products is limited

The decision of the US to impose a 25 per cent additional tariffs on steel and aluminium imports came into effect on Wednesday, a move that is set to adversely impact micro, small and medium enterprises (MSMEs).

 

While large steel players that produce carbon steel products may not see any major impact, since exports of such products are limited, exports of stainless steel, and steel products for industrial use will be hit hard.

 

Engineering Export Promotion Council of India (EEPC) Chairman Pankaj Chadha said that India exports $5billion dollars of steel and aluminium products to the US, which is an