global.must
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‘We’re scared of losing our jobs’: industries in India fear impact of Trump’s 50% tariffs
['Penelope Macrae']
World news: India | guardian.co.uk
India has long been one of the world’s great garment houses, turning out everything from cheap T-shirts to intricate embroidery.
Alongside textiles, India’s gems, jewellery and seafood industries face the same tariffs: 50%, compared with 15-20% for competitors in Bangladesh, Sri Lanka, Vietnam and South Korea.
The US “is our single largest market, accounting for over $10bn [£7.4bn] in exports – nearly 30% of our industry’s total global trade,” he said.
A Kolkata exporter said: “With the tariffs, India’s shrimp will become super-expensive in the US market.
Trump has long called India a “tariff king” and accused Delhi of shutting the US out of the domestic market.
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