India-US Trade War Intensifies: CTI Urges Retaliation
The Chamber of Trade and Industry (CTI) has appealed to Prime Minister Modi to counter the devastating impact of the US's 50% tariff on key Indian exports. CTI warns the hike threatens jobs and industry, urging India to explore new markets and impose counter-tariffs on American imports.
- Country:
- India
The Chamber of Trade and Industry (CTI) has made an urgent appeal to Prime Minister Narendra Modi, warning of potentially devastating impacts from a recent U.S. decision to impose a 50% tariff on Indian exports.
CTI Chairman Brijesh Goyal emphasized the wide-ranging effects on India's economy, particularly textiles, leather, gems, jewellery, auto components, chemicals, pharmaceuticals, seafood, and electronics industries.
He urged for a strategic response, highlighting the importance of imposing retaliatory tariffs on U.S. goods and diversifying India's export markets to countries like Germany, the U.K., Singapore, and Malaysia.
(With inputs from agencies.)
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