Retaliatory Tariffs

Last week, US President Donald Trump announced an additional 25 percent tariff on Indian goods, citing New Delhi’s links with Russia. While the measure is expected to hit 55 percent of India’s exports, the heaviest blow will likely fall on MSMEs in sectors such as gems and jewellery, textiles, and apparel. The move raises pressing questions: can India’s small and medium exporters weather the tariff shock, and are there viable opportunities to redirect trade to alternative markets?

US dependence on China for farm exports has more than doubled in 7 years

The US has fewer options as trade tensions with Mexico, Canada, EU are also growing. These countries together had 56 percent share of US farm exports

Proposed retaliatory tariffs by the US will hit jewellery sector hard: GJEPC chairman Colin Shah

Shah says with global demand rising, exports to the US, Hong Kong and the United Arab Emirates have grown steadily. But at home, key sectors like gold and diamond are pinning their hopes on a major revival after the pandemic.

Explained | Why is US considering major retaliatory tariffs against India?

A hearing by the USTR on May 11, attended by respondents from Indian industry, gathered feedback on whether additional tariffs of up to 25 percent should be imposed on India’s major exports to the US such as sea food, basmati rice, diamonds and jewellery. The US move was provoked by India's decision to stick to its digital tax for foreign entities.

Trumped! India may impose retaliatory tariffs on 29 US products

Retaliatory tariffs on US goods were deferred till June 16 as India was in the midst of General Elections.

Retaliatory tariffs on US exports without justification under international rules: US

The US has adopted a confrontational path with some of its major trading partners including India as it threatens to take all necessary steps to protect US interests.