Turning Trump’s tariffs on China into opportunities: These are the Indian products with additional export potential
Donald Trump’s election back into the office has begun with his loud announcements on heightened tariffs which has sparked concerns around the world. He recently targeted Mexico, Canada, and China, stating that if they fail to address the issue of illegal migration and drug smuggling into the US, he will impose a 25% tariff on all goods from Canada and Mexico; and “an additional 10% tariff, above any additional tariffs” on goods from China.
While Trump has left India out of his initial tariff plans, he has made an announcement that if the BRICS (Brazil, Russia, India, China, and South Africa) countries create their own currency or back an existing currency to replace the United States dollar, the US will impose a 100% import tariff on these countries. As the world navigates through a realm of likely scenarios, when it comes to how the US exercises tariffs, there is China and then the rest of the world!
This holds true irrespective of whether it is the Republicans or the Democrats in power. While Trump, in his earlier term, was held responsible for the initial tariff hikes on Chinese goods, which subsequently escalated into a trade war between the two countries, Biden continued to raise tariffs on Chinese goods through his entire term. As recently as 13 September 2024, the Biden administration ratcheted up tariffs on Chinese goods on items such as apparel, electric vehicles, solar panels, and other products. China in all likelihood seems to be Trump’s first target before any strategy for tariff escalation is
