May 30, 2025 10:00 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
US Judge extends order blocking Trump ban on foreign students' enrolment in Harvard | India rejects Team Trump's latest claim on tariffs' role behind ceasefire with Pakistan | Operation Sindoor is not over yet: PM Modi's announcement from Bengal | 'Why aren't you giving sindoor to your wife first?': Mamata slams Modi on Operation Sindoor | Murshidabad and Malda communal violence reflect TMC govt's cruelty: Modi in Bengal | Gaurav Gogoi maintained proximity with the Pakistani establishment: Himanta Biswa Sarma | 'I have better things to do': Shashi Tharoor after Congress calls him 'super spokesperson of BJP' | Days not far when people of PoK will voluntarily reunite with India: Rajnath Singh | Elon Musk expresses 'disappointment' over Trump's 'big, beautiful bill', says it will 'increase budget deficit' | Shashi Tharoor upsets Congress after praising PM Modi's Operation Sindoor during Panama visit
Sensex
Indian market crashes amid Trump tariffs. Photo Courtesy: UNI file

Indian market crashes amid Trump's fresh tariffs, Sensex down over 1000 points

| @indiablooms | Feb 11, 2025, at 02:25 pm

The Indian market crashed on Tuesday, hours after US President Donald Trump announced a 25 percent tariff on import of steel and aluminium.

As per market trends at 2.08 pm, the BSE Sensex was down by 1223.32 points to stand at 76,088.48.

The Nifty traded 381.05 points below, 23,000.55.

Also ReadRBI cuts repo rate by 25 bps to 6.25% after 5 yrs; industry welcomes move

Trump, whose inauguration occurred on January 20, has ordered a 25 per cent import tax on all steel and aluminium entering the USA.

The White House said in a statement: "Following the initial imposition of 25 percent ad valorem tariffs, the U.S. steel capacity utilization rate increased to above 80 percent."

Trump described his move as a 'big deal'.

"This is a big deal, the beginning of making America rich again," Trump was quoted as saying by BBC.

"Our nation requires steel and aluminium to be made in America, not in foreign lands," he said.

America is the largest importer of steel in India.

Canada, Brazil and Mexico are the top three suppliers.

Reacting to Trump's move, Canada's Minister of Innovation, Francois-Phillippe Champagne said: "Steel and aluminium tariffs on Canada, the United States' closest ally, would be totally unjustified."

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu