Trump tariff-hit exporters seek sops, eye survival plans

India's top export industries to the US, including gems and jewellery, and apparel, are bracing for a prolonged downturn after US President Donald Trump on Wednesday announced a steep 50% import tariff, effective 28 August.

- Suneera Tandon & T. Surendar

The new regime marks a sharp jump from the current 2.1-13.9% tariff range to 51.3-63.9%, impacting sectors that account for 20% of India's $86 billion in annual exports to the world's largest economy.

Exporters and industry bodies warn the tariffs will render businesses unviable, with diamond and jewellery leaders calling the move "devastating." The Gems & Jewellery Export Promotion Council (GJEPC) has sought urgent relief, including part tariff reimbursement, while apparel exporters are rushing to ship goods before the deadline in hopes of avoiding some immediate losses.