In today’s episode of our daily business brief Two Sharp with ET, Nisha Poddar decodes US President Trump’s move to double tariffs on steel and aluminium imports to 50%, targeting global exporters and sparking alarm across India’s manufacturing hubs. With $4.5 billion at stake in Indian exports, analysts warn of job losses, demand shocks, and trade diversion. While the UK secured an exemption, India eyes a similar waiver amid ongoing BTA talks. The move revives memories of 2018’s trade war, with retaliation on the table. In terms of markets, Indian stock markets closed with solid gains on Thursday, lifted by pharma, realty, and heavyweight Reliance Industries. Global cues such as a weaker U.S. dollar and falling bond yields added momentum. Markets now await RBI’s policy decision. This report breaks down the top four triggers, including oil prices and FII trends.
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