Former President Donald Trump has reduced tariffs on Indian steel and aluminum imports, easing trade tensions between the two nations. The move follows pressure from U.S. manufacturers and lawmakers concerned about supply chain disruptions and rising input costs amid global trade uncertainty.

Asian equity markets responded positively, with steel and metal stocks leading gains across Tokyo and Mumbai. The decision is seen as a pre-election attempt to stabilize industrial sectors reliant on affordable raw materials. Indian exporters are expected to benefit from improved access to U.S. markets.

Investors are now watching for further trade adjustments ahead of the November election. Analysts predict renewed negotiations on bilateral trade deals, especially in technology and defense. Market participants remain cautious about potential retaliatory measures from other trading partners.