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US Tariffs on China May Have an Impact on Indian Chemical Companies
Mint Mumbai
|March 17, 2025
Repercussions of US President Donald Trump's tariffs on China will likely be felt not just on several domestic sectors but also on key export destinations for Indian companies as Chinese firms turn to less-taxing geographies.
Other than domestic sectors such as steel that will likely be affected by the US decision to impose 20% tariffs on all Chinese imports into the country, industry experts say Indian chemical exporters will also be in a tough spot.
This is because the US tariffs could force Chinese chemical companies to flood other markets with cheaper products, depressing global prices and causing stiff competition for Indian chemical exporters.
The US was India's largest importer of chemicals, at $2.9 billion in 2023-24, accounting for about 14% of India's total chemical exports of $20.4 billion that year, according to the Union commerce and industry ministry's Chemexcil (Basic Chemicals, Cosmetics & Dyes Export Promotion Council).
This story is from the March 17, 2025 edition of Mint Mumbai.
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