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The Deal Looked Promising

India and the UK aimed to boost bilateral trade from $57 billion to $120 billion by 2030 with major tariff reductions.

99% Duty-Free Access

Under the agreement, almost 99% of Indian exports were expected to enter the UK market duty-free.

Then Steel Changed Everything

The UK announced new steel safeguards, cutting India’s tariff-free steel quota by 60%.

50% Tariff Shock

Any Indian steel export above the new quota could face a 50% tariff, creating fresh tension between both countries.

Why Did the UK Do This?

The UK acted mainly because cheap Chinese steel flooded global markets, pressuring domestic steel producers.

What It Means for Stocks

Tata Steel may face more headline risk due to UK exposure, while SAIL and Jindal remain more insulated.

Read Now

Steel has become the unexpected villain in the India-UK trade deal. Read the full blog to understand the complete impact.