Trump's aluminium tariff rise threatens Indian industry, Vedanta warns
Investing.com -- Vedanta (NYSE:VEDL), an Indian metals-to-oil conglomerate, expressed concern on Wednesday about the potential damage to the Indian aluminium industry posed by U.S. President Donald Trump's decision to double aluminium tariffs to 50%. The company, which is the largest aluminium producer in India, stated that this increase in tariffs threatens an industry already grappling with a rise in imports.
According to a spokesperson from Vedanta, the 50% tariff announced by Trump could exacerbate the difficulties faced by the Indian aluminium industry. The industry is already dealing with an increase in imports that is creating a surplus and posing a risk to domestic market access.
In response to this situation, Vedanta has called on the Indian government to implement protective tariffs against imports. The spokesperson highlighted the need for duty guard-rails for the aluminium industry, which has invested more than $20 billion to establish the current domestic primary aluminium capacity.
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