US Tariffs on Indian Imports: Stalin Seeks Special Financial Relief Package

The package should include a moratorium on principal repayment, the Tamil Nadu CM told Prime Minister Narendra Modi in a letter

- OUR CORRESPONDENT

CHENNAI: Tamil Nadu Chief Minister M K Stalin on Saturday expressed concern over the possibility of the enhanced US tariff on Indian imports affecting the industry and employment, and demanded that the Centre provide a special financial relief package.

The package should include a moratorium on principal repayment, he told Prime Minister Narendra Modi in a letter.

While appreciating the efforts by the Centre to achieve a mutually beneficial trade agreement with the US, he also extended full support to the country's position to defend national interests.

"In this context, I wish to bring to your attention a matter of considerable concern to Tamil Nadu, as it faces severe implications due to the current 25 per cent tariff and its potential escalation to 50 per cent."

In the last financial year, while 20 per cent of India's total goods exports of $433.6 billion were to the US, 31 per cent of Tamil Nadu's $52.1 billion goods were exported to that country.

"This higher dependency on the US market clearly implies that tariff impact on Tamil Nadu will be disproportionately greater than for most other Indian states.