He further hoped for a solution from the Union Government, stating that the gems and jewellery trade from Jaipur to the US is worth Rs 11 to 12 lakh crores.
He explained that because of the increased tariffs, Indian goods will be up to 35 per cent costlier in the American market compared to competitors, prompting buyers to look elsewhere.
Shamim Azad, a leather exporter, stated that the United Kingdom is currently experiencing a recession and had some work in the US, but it has completely "flopped" at present. He mentioned that the US customers have asked them to put the orders on hold due to the tariffs.
In a post on X, Ramesh said, "The Trump double tariff has come into effect. This will undoubtedly hit our labour-intensive exports to the US - especially textiles, gems & jewellery, leather, marine products, and engineering as well."
The 50 per cent tariffs on imports from India to the United States came into effect on Wednesday after the U.S. Customs and Border Protection (CBP) published an official notice.
Former Foreign Secretary and Rajya Sabha MP Harsh Vardhan Shringla remained hopeful that India will soon conclude a "satisfactory mutually beneficial" Free Trade Agreement (FTA) with the US as 50 per cent tariffs are set to kick in on Wednesday.
The recent move by the United States to impose steep tariffs on Indian goods is expected to weigh on the U.S. economy, pushing up inflationary pressures and impacting growth, according to a report by the State Bank of India (SBI).
"Donald Trump has said it again. And yet--silence from PM Modi. When the Leader of Opposition asked in Parliament for just one word of clarification, Modi chose to stay mute. Modi, who speaks at length on anything and everything, falls completely silent when it comes to Trump's repeated c
Brazil's President Lula da Silva condemned the US for revoking Justice Minister Ricardo Lewandowski's visa, calling it "irresponsible." The move escalates tensions as the US, under President Donald Trump, continues to pressure Brazil over the trial of former president Jair Bolsonaro and impo
US President Donald Trump said 600,000 Chinese students will be allowed to study in American colleges, calling it "very important." His remarks, made amid trade talks with Beijing, signal a possible easing of tensions after tariffs and restrictions strained U.S.-China relations.
Criticising the additional 25 per cent tariffs to be imposed by the US on Indian goods as "grossly unfortunate and highly condemnable", CPI(M) MP John Brittas on Tuesday stated that Washington is treating India like a colony, noting that the tariffs were either " a sanction or an embargo".