Vedanta, JSW Steel, other metal stocks slide as Trump's tariffs reignite trade war fears
India runs the risk of dumping of steel products into the country after the US tariff imposition, along with concerns over the impact of tariffs on global ***** shares of metal companies posted strong losses on April 3 following US President Trump's reciprocal tariffs on concerns over global demand growth and the potential disruption to business activities across the globe.A factsheet released by the White House showed that steel, aluminum and other articles will be exempt from the reciprocal tariffs, as the Trump administration has already imposed 25 percent tariffs on them. The exemptions include copper, on which Trump is expected to announce tariffs in the near future.
Industry experts, concerned over the impact tariffs on global demand, also fear the uncertainty over potential counter-measures by China and the European Union, sparking worries over an extended trade ***** was the top loser on the index, crashing nearly 4 percent, whiel Hindalco and JSW Steel shares fell over a percent each. Tata Steel, Jindal Steel & Power, Hindustan Copper and National Aluminium shares too closed nearly a percent lower, while Steel Authority of India (SAIL) ended with marginal losses.