India Faces Economic Challenges Amid US Tariffs and Diplomatic Tensions
US steel tariffs imposed by Trump have significantly impacted India's export-oriented foundries, especially in eastern India, leading to slowed or halted work, financial stress, and potential closures among small and medium enterprises. The tariffs have caused a drop in US-bound exports, increased domestic competition, and heightened vulnerability to Chinese steel imports. The Indian government is exploring measures like trade negotiations and protective duties to mitigate the damage, but industry experts warn of possible layoffs and closures if swift action isn't taken.