(Business Today)
Steel and aluminium aren’t just metals—they’re the hidden frontline of the global trade war, says Vedanta Chairperson Anil Agarwal. As India imposes a 12% safeguard duty on steel imports, Agarwal is now pushing for similar protection for aluminium.
“We all know there are two countries central to the trade war, US and China. But did you know there are two commodities also centrestage—steel and aluminium,” Agarwal wrote on X, framing the metals as the true economic weapons in play.
India’s new safeguard duty, announced in April, aims to shield local steel producers from a surge of cheap imports that threaten to destabilize the domestic market. The duty, set at 12% for 200 days, targets products priced below global thresholds.
Pointing to the US’s 25% tariff on both steel and aluminium imports—affecting even allies like Canada and Mexico—Agarwal argued that India must act before its market is flooded. “With our huge bauxite reserves, India will be the aluminium hub for the world. A huge downstream industry will also come up,” he said.
The message is clear: safeguard duties aren’t just tariffs, they’re shields for India’s economic future.
