Alcohol, meat, sugar .. These 10 sectors of India will be the most affected by Trump’s counter -tariff from April 2
US President Donald Trump
US President Donald Trump is ready to impose counter tariffs from April 2. The country which imposes tariffs on the import of goods America, America will put the same tariff on the questions that come here from those countries.As this deadline is coming near, stakeholders associated with it are confused about this. He still hopes because Washington is moving towards a new business agreement with India.
America is facing huge trade deficit and to overcome this, Trump’s government is going to bring counter tariffs. What effect it will have on Indian businesses will depend on whether they are applied at product level, field level or country level. Significantly, from 2021-22 to 2023-24, America was the largest business partner of India. America is about 18 percent of the total goods exports from India, 6.22 percent in total imports and 10.73 percent in bilateral trade.
Bharat exports America to 30 regions, including six agriculture and 24 industries. If the tariff is implemented at the sector level then these products will be affected:
- Alcohol, wine and spirit: The highest tariff growth of 122.10 percent on it will be effective, although its total exports to the US are only $ 19.20 million.
- Dairy Products: 38.23 percent tariff margin of $ 181.49 million will affect the trade of $ 181.49 million. Ghee, butter and milk powder going to America will become expensive, which will reduce their market share.
- Fish, meat and processed sea food: 27.83 percent tariffs on exports of $ 2.58 billion will increase. Shrimp is a major export from India to America but now it will become very less competitive.
- Living animal and animal products: tariff difference of 27.75 percent on US $ 10.31 million exports.
- Processed food, sugar and cocoa: 24.99 percent tariffs on exports of $ 1.03 billion will increase, which will make Indian snacks and confectionery expensive in the US.
- Shoes: The tariff of 15.56 percent in this area can increase.
- Diamond, Gold and Silver: With an export of $ 11.88 billion, the sector will increase 13.32 percent tariff, jewelery prices will increase and competitiveness will be reduced.
- Industrial goods: The pharmaceutical sector is facing 10.90 percent tariff difference, which will increase the cost of generic medicines and special medicines.
- Edible Oil (Edible Oil): The area will face 10.67 percent tariffs, which will increase the cost of coconut and mustard oil.
- Ore, minerals, petroleum and textiles: No new tariffs will apply in these areas.