esla Car Factory In India, Trump New Tariffs with India, US News Live Updates: US President Donald Trump’s import duties of 25 per cent announced on steel and aluminium could hit Indian exports of engineering goods worth an annual $5 billion but a successful India-US bilateral trade deal could boost exports, according to industry sources. Bucking the overall trend of lacklustre export performance, the engineering goods sector is set to post a 10 per cent export growth in FY25 to $120-125 billion, per estimates by EEPC India. “We export engineering goods worth $20 billion to the US annually. Of this, about $5 billion get covered by the 25 per cent extra tariffs announced by President Trump. This is the extent to which the sector is exposed to the tariffs,” Pankaj Chadha, Chairman, EEPC India, told businessline.
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- February 20, 2025 10:26
Trump tariffs news updates: Trump tariffs on steel, aluminium could hit $5 billion of engineering exports from India
Trump tariffs on steel, aluminium could hit $5 billion of engineering exports from India
US President Donald Trump’s import duties of 25 per cent announced on steel and aluminium could hit Indian exports of engineering goods worth an annual $5 billion but a successful India-US bilateral trade deal could boost exports, according to industry sources.
