In a move that has put Indian exporters, especially those in the engineering and leather goods sectors, under financial pressure, President Trump has enforced a 25% increase in tariffs. This decision has led to a halt in shipments totaling $5 billion, as numerous American buyers are now requesting price revisions and discounts. With trade relations between India and the US becoming increasingly unpredictable, industry experts are highlighting the importance of diversifying into other markets to mitigate risks. The imposition of these additional tariffs has sparked fear within the Indian export community, prompting calls for strategic planning and adaptation to minimize the impact on businesses. As exporters grapple with the repercussions of these tariffs, they are exploring opportunities in alternative markets to sustain their businesses and navigate the challenges posed by the current trade environment.
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