Price of weapons likely to surge after petrol and diesel

America's decision to charge too much on steel and aluminum could is likely to effect the domestic metal industry.

It has been said in a report of industry and commerce organization Assocham, US President Donald Trump had imposed a 25 per cent on steel imports and 10 per cent on aluminum imports on October 8, 2018.

It is said in the report, "It will be difficult to assess whether there will be effect of duty on steel and aluminum, but it can be said that Indian exports can be more expensive and uncompetitive than other countries in the US market and Especially against countries against whom the US has not imposed a fee. "Apart from this, its effect can also be seen at the cost of zinc and nickel.

America imports most of the steel in the world. Last year, it imported 3.56 million tonnes of steel. The report says that after charging duty on various products of China, imposing a duty on the export of steel and aluminum has affected the global economy. With this, the trend of action against each other in global business has increased rapidly and all major economies are charging each other against each other.

According to the report it can increase the difficulties of other developing countries including India.

Union Steel Minister Chaudhary Birendra Singh has already said that due to the 25 per cent duty imposed by the United States on steel exports, the domestic market could be indirectly affected.