Government examining impact of US tariff on India: Minister

New Delhi: The government is examining the impact of 25 per cent tariff imposed by the US on steel and aluminium imports, Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha on Monday.

As per Proclamations issued by the president of the US dated February 10, 2025, the US government has imposed the import duty with effect from March 12, 2025, he said in a written reply. No proclamation has been issued on pharma, automobile and semiconductor sectors so far, he said. “As informed by Department of Commerce, the impact of the above proclamations on India is being carefully examined and evaluated,” he said.

Replying to another question, Chaudhary said out of 40 recommendations, India received ‘Compliant’ or ‘Largely Compliant’ rating in 37 recommendations by global money laundering and terrorist financing watchdog FATF.