By our Special Correspondent
US President-elect Donald Trump on Tuesday signalled potential fresh tariffs on imported steel to safeguard the American steel industry. Trump said that he would even block Nippon Steel, a Japanese company, from acquiring the Pennsylvania-based steel manufacturer, US Steel.
This comes at a time when Indian steel companies are grappling with several challenges in international markets, leading to a sharp decline in exports and a significant rise in steel imports into India. During the first half of the ongoing financial year, steel imports into India surged by approximately 41 per cent, while exports declined by 36 per cent, official data showed.
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