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US retaliatory tariffs major setback for Indian gems, jewellery exports: Industry
The Business Guardian
|April 04, 2025
The US retaliatory tariffs are a major setback for the Indian gems and jewellery exports, apex industry body GJEPC said on Thursday as it urged the government to take steps to secure the long-term interest of the sector.
The US has announced 27 per cent reciprocal tariffs on India saying New Delhi imposes high import duties on American goods, as the Donald Trump administration aims to reduce US trade deficit and boost manufacturing.
The Trump administration's announcement of a 27 per cent reciprocal tariff on India would be a significant burden on Indian exporters and American consumers alike, the Gem and Jewellery Export Promotion Council (GJEPC) said in a statement.
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