US Tariff Hikes Threaten Indian Apparel Exports
The US imposition of a 25% tariff on Indian goods, set for August 1, may affect Indian apparel exports. The interim trade deal could boost exports, but textile sectors are alarmed. India hopes for resolution before the deadline, as the US is a key garment export market.
- Country:
- India
The recent announcement by US President Donald Trump to impose a 25% tariff on Indian goods, effective from August 1, has raised concerns among Indian apparel exporters, according to the Apparel Export Promotion Council (AEPC).
An interim trade deal between the two nations is anticipated to bolster exports, but the tariff rate is higher than anticipated. AEPC Chairman Sudhir Sekhri expressed cautious optimism, noting the industry's relief as long as tariffs for Vietnam and Bangladesh remain unchanged.
Indian garment exports to the US, a vital market comprising 33% of India's total exports, might slow until a trade agreement is finalized by late 2025. India has seen growth in the US market, now ranking fourth among top exporters.
(With inputs from agencies.)
ALSO READ
Protests Erupt as Donald Trump Tours Scottish Golf Courses
There was no talks between Prime Minister Modi and US President Donald Trump between April 22 and June 16: EAM S Jaishankar in Rajya Sabha.
Why did PM not publicly retort US President Donald Trump on claims on mediation between India and Pakistan: P Chidambaram in RS.
US President Donald Trump announces 25 per cent tariff on India from Aug 1.
This reflects irresponsibility of our Prime Minister: Priyanka Gandhi on US President Donald Trump announcing India-Pakistan 'ceasefire'.
Google News