#AlJazeera Trump’s 50% tariffs on Indian imports will hit labour intensive industries the hardest: Analysis
Trump’s 50% tariffs on Indian imports will hit labour intensive industries the hardest: Analysis
US President Donald Trump’s steep tariffs on Indian imports went into effect earlier on Wednesday.
A 25 percent tariff imposed due to India’s purchase of Russian oil comes on top of an earlier 25 percent levy.
As a result, many Indian exports to the US such as clothing, jewellery, footwear, sporting goods and chemicals will get hit with a 50 percent tariff.
It is among the highest rate imposed by the US and is on par with Brazil and China.
Garima Kapoor, Executive Vice President and Economist at Elara Securities, told Al Jazeera that the impact would likely be felt in labour intensive industries such as textiles, garments, gems and jewellery, marine exports, some auto exports and leathers.
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