US Buyers React to Tariff Hike

US buyers reached out to Indian exporters in a panic following President Donald Trump's announcement to increase tariffs on Indian goods to 50%. This led to immediate suspensions and cancellations of orders, leaving the Indian export sector in shock.

Impact on Garment Exporters

A CEO of a Rs 600 crore garment export company shared how US buyers questioned the need for Russian oil, highlighting the sudden shift in trade dynamics. The increase from a 25% to a 50% tariff rate has made US buyers unwilling to share the burden, putting thousands of jobs at risk.

Seafood and Jewelry Sectors Hit Hard

Thomas Jose of Choice Group and Vijay Kumar Mangukiya of Dhani Jewels discussed the immediate effects, including halted shipments and price renegotiations. The US, accounting for 28% of India's apparel and textile exports, is a critical market now under threat.

Widespread Uncertainty and Job Losses

With Rs 3,000 crore in inventory at risk and production slowing down, industries from textiles to diamonds are bracing for impact. Workers, like Vinay Patel from Surat's diamond units, faced a harrowing night worrying about their employment status.