Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
· US imposes 104% tariff on Chinese goods as part of trade enforcement.
· Additional reciprocal duties on other countries go into effect.
· Potential global trade disruptions and retaliations expected.
In a bold trade policy move, the United States has officially implemented a 104% tariff on select Chinese goods, effective immediately. The White House announced that these duties aim to protect domestic manufacturing and serve as a reciprocal response to China’s long-standing trade practices.
This sweeping tariff is part of a broader enforcement package that includes additional duties on goods from countries deemed to have unfair trade advantages, including Vietnam, Mexico, and the European Union. The U.S. government emphasized that the action aligns with its commitment to level the playing field and safeguard critical industries like steel, aluminum, and high-tech manufacturing.
Markets reacted swiftly, with global stock indices showing volatility and trade analysts warning of potential countermeasures from affected nations. China has strongly opposed the tariffs and is expected to retaliate with similar levies on American imports, further straining an already tense trade relationship.
The tariff rollout is being closely watched by global stakeholders, including the Indian steel industry, which could face indirect impacts such as trade route shifts, dumping concerns, and pricing instability across key materials.
Also Read : Donald Trump Announces 50% Tariff on Steel Imports from June 4 SEC eases greenhouse gas reporting rules
Advance Steel Tubes reported a standalone net profit of Rs 0.02 crore for the December 2024 quarter,...
Business 28-Feb-2025
Nippon Steel offers $14B investment in U.S. Steel. $4B planned for a new U.S. steel mill. Approval...
Business 20-May-2025
Russian Copper Company (RCC) and Chinese firms have avoided taxes and skirted the impact of Western...
Non-Ferrous 15-Apr-2024
Private Indian enterprises have expressed an interest in developing at least 10 GW of coal-fired pow...
Large Corporate 05-Mar-2024
The Indian Railways has awarded steel supply contracts worth ₹1,586.39 crore to Tata Steel, Jindal S...
Large Corporate 12-Apr-2024
Vedanta's aluminium production climbed 6% to 5,99,000 tonnes in the third quarter of FY24. The compa...
Non-Ferrous 11-Jan-2024