Exporters say that the US accusation of customs duties on imports from China, Canada and Mexico gives India a huge opportunity to export to the US.
Tariffs will affect exports from China, Canada and Mexico to America as they will push the prices of their goods in the US market, making them less competitive.
Ajay Sahai, Director General of Indian export organizations, said, “This step can create opportunities for Indian exports due to trade turn as American buyers will look for alternative suppliers to avoid high cost.”
He said that the limit of profit depends on India’s production capacity and competition.
Sahai said, “The areas that are likely to achieve are electric machinery and components, auto components, mobiles, pharma, chemicals, garments, clothes.”
US President Donald Trump on Saturday signed an order to put rigid tariffs on imports from Mexico, Canada and China, fulfilled the promise of an expedition, but increased the possibility of increased prices for American consumers.
Trump is announcing an economic emergency for the US’s largest trading partners – 10% of duties on all imports from China and 25% on Mexico and Canada’s imports – in addition to a rate of 10% on Canadian oil.
During April-November 2024–25, the US was the second largest trading partner in India, with a bilateral trade of $ 82.52 billion in goods (exports of $ 52.89 billion, import of $ 29.63 billion and $ 23.26 billion business surplus).
In 2021–24, America was India’s largest trading partner.
Read more on global economics by NDTV profit. (Tagstotranslet) Federation of Indian Export Organization (T) Indian exporter
