India Evaluates US Tariffs Amidst FATF Commendation
The Indian government is assessing the impact of a 25% US tariff on steel and aluminum imports, as declared by the US in 2025. India maintains a robust position in anti-money laundering and terrorism financing, achieving high compliance in FATF evaluations, signaling strong economic governance.
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- India
The Indian government is currently assessing the effects of the new 25% tariff imposed by the United States on steel and aluminum imports, Finance Minister Pankaj Chaudhary announced in the Lok Sabha on Monday.
This tariff, part of a proclamation by the US President dated February 10, 2025, came into effect on March 12, 2025. While this measure affects steel and aluminum, other sectors, such as pharmaceuticals, automobiles, and semiconductors, remain unaffected, Chaudhary confirmed.
In a positive development, India received high compliance ratings in 37 out of 40 recommendations from the Financial Action Task Force (FATF), underscoring its strong stance in the global fight against money laundering and terrorist financing.
(With inputs from agencies.)
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