President Donald Trump is using his love of tariffs to threaten high-profile American companies. Over the past month, Trump has said he’d like to target two specific and very different companies – Apple and Mattel – with tariffs aimed at their key products over comments by their CEOs.

India's engineering exports face significant headwinds as the US prepares to impose a 50% tariff on steel and aluminium imports, effective June 4, 2025. This move, doubling existing duties, threatens approximately $5 billion in annual exports,

Donald Trump's proposed 50% tariff on steel and aluminium imports threatens India's engineering goods' shipments, potentially impacting USD 5 billion worth of exports. The existing 25% tariff has already intensified global competition.

As former US President Donald Trump imposes 50 per cent tariffs on steel and aluminium from 4 June, New Delhi should leverage ongoing FTA talks rather than escalate trade tensions, advises the Global Trade Research Initiative (GTRI).

In exchange for lower tariffs and wider market access, Lutnick said India is seeking “special access” to American and allied markets, calling current negotiations “very productive.”

White House confirms that President Trump and President Xi are likely to speak this week amidst escalating trade tensions. Treasury Secretary Bessent indicated the discussion would address disputes over critical minerals and export limitations.

Retailers like Macy's and Target are reducing reliance on China amid Trump's trade war, restructuring supply chains to mitigate tariff impacts and potential price hikes.

India will seek to the settle the issue bilaterally as part of the ongoing trade talks, rather than pursue it in the WTO.