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Al Jazeera
Al Jazeera
Business
Gurvinder Singh

‘Nail in a coffin’: Trump’s steel, aluminum tariffs bleed Indian foundries

A labourer works inside a steel factory on the outskirts of Jammu in India [File: Mukesh Gupta/Reuters]

Kolkata, India — For the past several years, the United States has been a major market for Aditya Garodia to export more than 100 items of steel derivatives like fasteners from his factory in West Bengal state in eastern India.

But ever since US President Donald Trump took office and unleashed a range of tariffs – 25 percent on steel and aluminium initially, as well as standalone country tariffs – global markets have been on edge, creating significant uncertainty for businesses across sectors.

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