Trump's tariff penalty fuels uncertainty for Indian exporters, puts them behind Vietnam, Indonesia
These tariffs set Indian exporters at a disadvantage against competitors such as Vietnam and Indonesia, where the tariffs are 20%.
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However, it is the added threat of a penalty has created uncertainty, which will make absorbing the differential duty more difficult.
"This is a negotiating posture of US for a unilateral trade deal which we should resist and give precedence to our national interest at any cost. While US market is important, the new free trade agreements with complementary economies will help us in export diversification and we also have a very vibrant domestic market," said Ajay Sahai, director general, Federation of Indian Export Organisations.
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