Trump increases import duties on steel and aluminum again

According to news agency sources, the new rate of duty on steel and aluminum imports will be effective from next Wednesday.

New Delhi: US President Donald Trump has increased import duties on steel and aluminum again. On February 15, he announced a 25 percent import duty on these two products. This time, he gave a message to increase it to 50 percent in one go. On the other hand, America is holding trade talks with Pakistan next week. Trump himself said. He said that representatives from Pakistan will come to America next week for tariff discussions.

According to news agency sources, the new rate of duty on steel and aluminum imports will be effective from next Wednesday. At a rally in Pittsburgh, Pennsylvania on Friday, Trump said, "This decision will revive the US steel industry. It will reduce dependence on China and strengthen national security." He also said that a joint venture between US Steel and Japanese company Nippon Steel will invest $ 14 billion (about Rs. 1 lakh 20 thousand crore) in steel production in that area.

However, experts believe that even if the target is China, it will also have an impact on India. America imports about $3 billion (about Rs. 26,250 crore) of steel from India annually. The amount of aluminum exports is slightly less than that. Incidentally, America imposed reciprocal tariffs on various countries last month. A list of how much duty will be levied on the products of which countries was published. According to that list, the US tariff on Pakistani products is 29 percent.

In this context, Trump said today, "Representatives from Pakistan are coming next week." Regarding the trade agreement with India, he said today, "You all know, we are very close to an agreement with India." After that, he said, "I would not have the slightest interest in an agreement with either of the two countries (India and Pakistan) if they were going to war against each other."