High U.S. Steel Tariffs Put Indian Foundries Under PressureThe 50% tariffs on steel and aluminum imports imposed by U.S. President Donald Trump are hitting India’s foundry sector hard. More than 200,000 workers in over 5,000 mostly small foundries are at risk. Export Dependence and Market DistortionsIn 2023, India exported iron, steel, and aluminum products worth USD 4.56 billion to the U.S. With the new tariffs, exports could fall by up to 85%. A safeguard duty of 12% on certain steel products is also being considered to protect the domestic market from Chinese dumping. OutlookWith additional U.S. counter-tariffs looming and the EU’s Carbon Border Adjustment Mechanism (CBAM) coming into force in 2026, India’s export-oriented foundries face mounting challenges.