Read, Watch or Listen

US President Trump's 50% tariff on steel imports has severely impacted India's small foundries, mainly in eastern India, which rely heavily on US exports. Facing mass layoffs and shutdowns, these foundries, employing over 200,000 workers, urge the Indian government for urgent intervention. While the Commerce Minister downplays the impact, industry experts highlight the significant blow to the sector, exacerbated by Chinese steel dumping and impending EU carbon taxes. The Indian government is exploring bilateral trade agreements, financial support for MSMEs, and safeguard duties to mitigate the crisis, but swift action is needed to prevent widespread closures by 2026.

Prepared by Christopher Adams and reviewed by editorial team.