NEWS: 🇺🇸 President Trump says Import tariffs on steel and aluminium will double to 50% starting June 4 vs 25% currently What is the fear? 😨 Tariffs will be detrimental to sentiment demand globally Impact for India a. Steel 👉 India doesn’t export a large quantity of steel to USA directly But Tata Steel Netherland sells about 700,000 tons to the US however some of this steel is not made in US b. Aluminium- Impact for Hindalco 👍 Midwest premiums will go up 👎 RM comes from Canada, need to see if exemption comes 😞 Problem is at 25%, Novelis has sounded a USD40 mn quarterly hit from Q1FY26