Tariff Tensions: U.S. Imposes Heavy Duties on Indian Exports

The U.S., under President Donald Trump, has implemented new tariffs impacting Indian exports like shrimp and steel. While some industries face challenges, sectors such as textiles may find advantages. India remains in talks for a Bilateral Trade Agreement to navigate these changes and maintain its competitive edge.

In a significant move, the United States, led by President Donald Trump, has enacted new tariffs that will affect global trade dynamics, particularly impacting India's export sector. A hefty 27 percent duty has been applied to goods entering the U.S., excluding select sectors such as pharmaceuticals and energy, which could potentially alter international trade strategies.

Critically affected are exports of Indian goods such as shrimp, steel, and gold jewelry; however, the textile industry may experience a competitive advantage due to higher tariffs on key competitors like Bangladesh and China. Meanwhile, India's significant trade surplus with the U.S. highlights the complex landscape facing both nations as they navigate evolving trade policies.

The impact of these measures is being closely monitored by the Indian government, which hopes to mitigate negative effects through ongoing negotiations for a Bilateral Trade Agreement. Economic analysts suggest these tariffs could depress global GDP growth, as the world adjusts to the new American trade barriers.

(With inputs from agencies.)