Exporters Raise Alarm Over Trump's Tariff Threats

Exporters have raised concerns over US President Donald Trump's threats of imposing tariffs, which could impact India's economic growth. During a meeting with Commerce Minister Piyush Goyal, key challenges like quality control orders and skilled labor shortages were discussed. Trump's 'America First Trade Policy' is under examination for potential effects on bilateral trade.

Exporters have expressed alarm at US President Donald Trump's recent threats to impose tariffs, according to industry sources. These concerns were voiced during a meeting with Commerce and Industry Minister Piyush Goyal on Thursday, where discussions focused on enhancing India's exports.

The meeting, which included heads from various export promotion councils ranging from textiles to electronics, addressed issues such as quality control, a shortage of skilled labor, and the extension of the interest equalization scheme. Trump's warning of imposing 100 per cent tariffs on BRICS nations, including India, if they attempt to sideline the US dollar, adds to the mounting pressure.

This comes on the back of India's decision to review Trump's 'America First Trade Policy' to better understand its impact on bilateral trade with the US, India's largest trading partner. Trade statistics underline the urgency; exports dropped slightly by about 1 per cent year-on-year, while imports rose by 5 per cent, widening the trade deficit considerably in recent months.

(With inputs from agencies.)