TNIE online desk
In August this year, Trump slapped an additional 25 per cent tariff, raising the overall levy to 50 per cent on goods coming from India, as a penalty for New Delhi’s continued purchase of Russian oil.
Tamil Nadu's Tiruppur’s RMG exports face a big blow as US tariffs jump from 13.9% to 61%, making India less competitive than Bangladesh and Vietnam.
US tariffs on Indian diamonds will soar from 2.1% to 52.1%, hitting Surat’s MSMEs that drive over 80% of the country’s exports in the sector.
The US, India’s biggest shrimp market, will now levy a 60% tariff, putting seafood MSMEs at a steep disadvantage against rivals like Ecuador, which faces only 15%.
The auto components sector will see only a limited impact, though MSME suppliers of gearbox and transmission parts may feel the pinch.