The US’s implementation of a 50% tariff on Indian imports has resulted in major US retailers, including Amazon, Walmart, Target, and Gap, halting new orders from India. The move is attributed to President Donald Trump’s policy. This action is set to create economic challenges for India, which relies heavily on the US market. The textile and apparel industries are projected to suffer the most, accounting for a significant share of India’s exports to the US. Exporters have been informed by US buyers to suspend shipments. India is also concerned about losing orders to competitors like Bangladesh and Vietnam, which benefit from lower tariffs. Sectors like gems and jewelry, auto parts, leather goods and marine products are also at risk, with many businesses run by MSMEs.
India Faces Economic Challenge as US Retailers Cut Orders Due to Tariffs
World 1 Min Read
