India does not expect any immediate impact from United States President Donald Trump's decision to impose curbs on steel imports, according to Steel Secretary Aruna Sharma.
Mr. Trump on Thursday announced that he would impose hefty tariffs on imported steel and aluminium to protect U.S. producers, risking retaliation from major trade partners like China, Europe and neighbouring Canada.
“We have only 2 per cent of our exports to the U.S., so no immediate dent, but validity of Section 232 is stretched to be used as tariff barrier,” she said on Friday.
The Trade Expansion Act of 1962, Section 232(b) gives the U.S. the ability to investigate whether certain imports, or high levels of certain imports, pose a threat to national security.
