Trump’s tariffs have a risk of taking the risk of taking, knowing how many jobs will be lost?

From August 27, the US has imposed an additional 25 percent tariff on India. That is, now a total of 50% tax will have to be paid on many products from India to America. This move by US President Donald Trump may cause great losses to many big sectors in India. The maximum impact will be on those industries who are already struggling with global recession and competition.

Which sectors will have the most impact?

• Textile (textile industry): India’s textile exports to America are quite large. But by increasing 50% tariffs, Indian products will become expensive and American companies can buy cheaper goods from other countries.
• Jewelery (Jewelry Industry): Indian jewelers will get a direct shock due to increase in taxes on gold-silver and diamond jewelery.
• Shrimp Industry: India has a large -scale shrimp exports from India. Due to increasing tariff, its demand may fall badly.
• Handicraft (Handicraft): The hard work of Indian artisans will now become expensive, which will affect their sales.

GTRI estimates that the export of these industries may fall by 70%. If this happens, thousands of jobs can be directly in danger.

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Which sector currently safe?

According to the report, Trump’s tariff on Pharma and Electronics sector will not have a big impact at the moment. America is dependent on India in these regions, so they have been exempted.

Why did Trump increase tariffs?

US President Donald Trump says that Russia’s policies still remain a threat to America’s security and foreign policy. India is constantly buying oil from Russia, which is providing financial help to Russia. This is the reason that the US decided to impose additional tariffs on India using the International Emergency Economic Powers Act (IEEPA).

How much effect on India?

• This tariff is a double challenge for India. On one hand, exporting industries will get a shock, on the other hand there may be a crisis of jobs.
• Industries such as textile and handicraft provide employment to millions of people in rural and semi-urban areas.
• A large number of laborers and artisans also work in the shrimp and jewelery sector.
• If the demand for Indian products in America decreases, then these industries may be trimmed.

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