Steel stocks in focus on Trump’s plans to impede 25% tariffs
Tata Steel and JSW Steel among others may remain in focus on Monday after US President Donald Trump announced his plans to impose new 25% tariffs on all steel and aluminium imports.
This may impact companies like Tata Steel, JSW Steel, Jindal Steel and Power, SAIL, Jindal Stainless and NMDC.
Trump also said he will announce reciprocal tariffs on Tuesday or Wednesday, applying them to all countries and matching the tariff rates levied by each country.
The move adds to jitters over a global trade war, with China's retaliatory duties on U.S. goods due to take effect on Monday.
Trump last week kicked off a trade war, first by imposing tariffs on Mexico and Canada and then pausing them, but sticking with duties on Chinese goods. That led to a measured tit-for-tat response from Beijing suggesting some room for negotiations.
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