After the US imposed 50% tariff on India, American retailers like Walmart Amazon have stopped Indian orders. Exporters fear that orders will be affected due to the increase in tariff. American companies want Indian exporters to bear the cost increased by the tariff, which may increase the cost by 30-35%.
After the US imposed 50 percent tariff on India, major American retailers including Walmart, Amazon, Target and Gap have now put orders coming from India on hold. Indian exporters were already afraid that their orders may be affected due to the increase in tariff.
NDTV has claimed, citing sources, that Indian exporters have received letters and emails from American buyers, which say that Indian exporters should stop shipment of clothes till further notice.
The cost will increase by 35 percent
Actually, American companies want Indian exporters to bear the cost increased by the tariff. The cost of goods sold in America is likely to increase by 30 to 35 percent due to the tariff. Major exporters from India include Welspun Living, Gokaldas Exports, Indo Count and Trident, which account for 40 to 70 per cent of its sales in the US.
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