India runs a $35 billion trade surplus with the US, and “Tariff Man” Trump hates this. Delhi has already slashed duties on key US exports and pledged to buy more American oil and weapons. But India is still the most protectionist major economy in the world.

India's smaller steelmakers could be forced out of business by a further surge in imports resulting from sharp tariff increases imposed by U.S. President Donald Trump, industry executives warned on Monday.

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