Chinese export hubs like Shanghai and Guangdong are experiencing early disruptions as the US-China tariff war escalates. With shipping halted and factories at a standstill, tensions have intensified following sharp reciprocal tariff hikes announced by both governments this week.
Guidance posted by Customs and Border Protection, which collects duties on imports, indicated roughly 20 products that would be exempted from reciprocal tariffs. The electronic items include smartphones, computers, semiconductor chips and routers.
Financial advisory firm Prabhudas Lilladher asserted that US tariff war with China is of significant strategic imperative and is unlikely to wane off soon, even if it enters into bilateral trade agreement with various countries.
The US crackdown on low-value Chinese e-commerce shipments has opened a rare and potentially lucrative window for Indian exporters, said GTRI in a report.
"Given, India's price competitiveness and supportive government policies, we expect GDP to see only a 0.1 per cent impact," said PHDCCI in a statement.
Amid the rising concerns over global trade due to Trump's tariff policy, Rosa Balfour, Director at Carnegie Europe, said that something must be done to protect the international trading system.
Senior research fellow Shruti Rajagopalan welcomed America's decision to pause the trade tariffs for a window of 90 days and expressed her views on the global trade order. She also spoke about the steps Indian policymakers can adopt to make exports more competitive. Rajagopalan made the r
As the US and China engage in a tariff war, Tanvi Madan, Senior Fellow at the Brookings Institution, said on the sidelines of the Carnegie Global Tech Summit that India is going to be carefully watching these developments. She also spoke about the increasing Indo-US partnership across areas
Speaking about how various global groupings will step up to meet the challenges arising from the US trade tariffs, Carnegie Europe Director Rosa Balfour said that countries and large blocs are coming together to ensure they have a "web of relationships" that can preserve global trade.
Habil Khorakiwala, Chairman of pharma company Wockhardt on Friday indicated that any imposition of tariffs on pharma products by the US administration would be counterproductive for the Americans.
Dr Huzaifa Khorakiwala, Executive Director of Wockhardt Limited, on Saturday said that the fall of US reciprocal tariffs on Indian pharmaceutical products will pose a significant challenge to the industry.