The possibility of global trade war increased again after Trump’s announcement to implement the tariff.
After President Donald Trump was imposed on tariff, there was a pressure of selling in metal stocks in the domestic stock market. The shares of big metal companies were seen to be eating all four foods. According to PTI news, the shares of Vedanta Group declined by more than 8 percent on Friday. Similarly, Vedanta’s stock fell 8.45 percent to Rs 402.40, Tata Steel’s stock fell by 7.78 percent to Rs 141.70, National Aluminum Company’s stock fell by 7.38 percent to Rs 159.90, Hindalco Industries’ stock fell by Rs 7.16 percent to Rs 7.066 and NMDC’s share fell by Rs 7.05 percent to Rs 65.53.
Legendary metal companies also could not survive
According to the news, in the second stock, Jindal Stainless shares fell 7. 02 percent to Rs 553. 05, Hindustan Zinc fell 7. 01 percent to 427. 20 per Rs. Called to 50 rupees. The possibility of global trade war increased again after Trump’s announcement to implement the tariff. Its effect was seen on metal stocks today.
India’s challenge is increasing
The decline in metal shares is due to the imposition of more mutual fee by the Trump administration, which has given a wind to the recession and expressed concern that a huge increase in American charges will damage global economic development. Amar Ambani, executive director of Yes Securities, said that the current 25 percent of the US tariffs on steel and aluminum remain unchanged, increasing the US domestic prices. By the way, exporters from Vietnam, Japan and South Korea are moving towards India and the Middle East, leading to India’s challenge with cheap steel imports.
The US administration on Wednesday announced a 26 percent mutual tariff on India, stating that New Delhi imposes high import duty on American goods. Last month, the United States proposed a 25 percent tariff on all steel and aluminum imports in the US.
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