Trump's tariff havoc begins; Work stopped in many factories in country, crores worth orders cancelled

Trump's tariff havoc begins: American President Donald Trump's tariff havoc has begun. Though there are many sectors which have been affected by it, but the textile sector seems to be the most affected. In Tamil Nadu, the situation has become such that factories have stopped their production after American importers cancelled orders worth crores. All the orders of Indian businessmen have either been cancelled or shifted to other countries. While many garment factories have even stopped working because American buyers have cancelled their shipments.

Also Read: Who is Tammy Bruce? Trump nominates her as US Deputy Representative to the UN Factories producing textiles in Tirupur, Tamil Nadu have become sluggish. Textile exporters here say that after the US President imposed 50 percent tariff, many orders have been put on hold or have been cancelled. Meanwhile several orders of Indian garment exporters have shifted to Bangladesh, Pakistan and Cambodia. In these countries, tariff ranges from 19 to 36 percent, which is much lower than in India.

Business has gone to Pakistan

An exporter from Tirupur said that all the shipments going from India to America have now been received by Pakistan. Many American buyers have put the orders on hold. Some exporters say that American buyers have agreed to bear 25 percent tariff, but it will not be possible if it is doubled. They complain that after the tariff, the prices of some products will increase by up to 64 percent, which will be Many American buyers have put the orders on hold 35 percent more than our competitors.

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Many American buyers have put the orders on hold

The Industry representatives said that the execution of orders has also been stopped as per the decision of American buyers. After the US imposed 50 percent duty on India, textile and apparel exporters to America are in a wait and watch situation. This means that they are not taking any big step immediately, but first want to see how the situation changes in the future, so that a decision can be taken accordingly.

Summary

After the signing of the free trade agreement between India and Britain, businessmen of Tirupur have hope from the British market