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Advantage, textiles and leather
Mint Mumbai
|April 04, 2025
The universal and reciprocal tariffs that US President Donald Trump announced on 2 April has put Indian textile and leather sectors at a relative advantage over their peers.
This is because the US has levied higher tariffs on India's main competitors.
Vietnam will suffer a 46% tariff on all exports, while it is 44% on Sri Lanka and 37% on Bangladesh. China, the biggest exporter of textiles and leather to the US, will have to pay 54% more (34% reciprocal tariff and 20% tariffs levied earlier after Trump returned to office). Indian exports will face an additional tariff of 27%. That improves India's competitiveness in the US market.
This story is from the April 04, 2025 edition of Mint Mumbai.
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