Goyal Urges Caution: Avoid High-Tariff Goods Re-routing

Commerce and Industry Minister Piyush Goyal warned exporters against re-routing goods from high-tariff countries to the US. Exporters are cautioned to explore other markets and not enter long-term contracts amid US tariff hikes on various exports including shrimp and textiles. Discussions with various sectors are ongoing.

Exporters are being urged by Commerce and Industry Minister Piyush Goyal to avoid redirecting goods from high-tariff countries, particularly to the United States, following new trade regulations.

At an inter-ministerial meeting, the heightened risk of firms being blacklisted by American authorities was highlighted, as the diverted exports would violate US rules of origin norms.

Participating industry sources report that the meeting also discussed exploring new markets and leveraging free trade agreements due to the uncertainty surrounding tariffs on various sectors including shrimp, textiles, and engineering.

(With inputs from agencies.)