Article 6ZT4A ‘We’re scared of losing our jobs’: industries in India fear impact of Trump’s 50% tariffs

‘We’re scared of losing our jobs’: industries in India fear impact of Trump’s 50% tariffs

by
Penelope MacRae in Delhi
from Economics | The Guardian on (#6ZT4A)

Textiles, footwear, jewellery, gems and seafood are sectors most affected in trade with US, India's biggest market

India has long been one of the world's great garment houses, turning out everything from cheap T-shirts to intricate embroidery. Last year, textile and garment exports to the US alone fetched 21bn, riding a wave of strong consumer demand.

Now the trade is in jeopardy. With the stroke of a pen, the US president, Donald Trump, last week slapped a 50% tariff on more than half of India's 65bn worth of merchandise exports to the country's largest market. A supply chain once prized for being cheap suddenly became among the priciest.

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