Trump's 'America First' agenda may lead to higher tariffs on Indian auto, textiles, pharma: Experts
Indian exporters may face high customs duties for goods like automobiles, textiles and pharmaceuticals if the new US administration decides to pursue the 'America First' agenda, opined trade experts. Experts also said that Trump could also tighten H-1B visa rules, impacting costs and growth for Indian IT firms.
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Over 80 per cent of India's IT export earnings come from the US, making it vulnerable to changes in visa policies.
The US is India's largest trading partner, accounting for over USD 190 billion of annual trade.
Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said that Trump may extend tariffs beyond China to include India and other countries.
Trump had earlier called India a «large tariff abuser» and in October 2020 labelled India as the 'tariff king'.
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