Major US Retailers, Walmart, Amazon, Target, & Gap, Pause Indian Orders After Trump's 50% Tariff Imposition

On Friday, Major US retailers, including Walmart, Amazon, Target, and Gap, have paused orders from India after the US President Trump imposed a 50% tariff on Indian goods, sources told NDTV Profit.

Apparel & Textile Shipments

US buyers have sent letters and emails to exporters requesting them to pause apparel and textile shipments until further notice. According to NDTV World, sources stated that the buyers are unwilling to share the cost burden and want exporters to absorb costs.

India's Oil Imports

FPJ Shorts

Bengaluru: 14-Year-Old Class 7 Student Kills Self, Police Suspect Link To Japanese Anime Series 'Death Note'

Mumbai: Rahul Deshpande & Deepti Mate To Lead Abhangwari’s 10-Year Celebration This Raksha Bandhan

'What's Going On?': Ben Shelton Left Stunned As Victoria Mboko's Victory Sparks Loud Mid-Match Cheers From Canadian Crowd; Video

'Either Sign Declaration Or Apologise': EC Gives 2 'Options' To Rahul Gandhi After His ‘Vote Chori’ Charge, Calls Claim 'Absurd'

"The United States has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India," said the Ministry of Affairs.

Read Also

India Pauses $3.6 Billion Deal To Procure Boeing Jets From US Post 50% Tariff Imposition

Cost Will Increase By?

Higher tariffs are expected to increase costs by 30 per cent to 35 per cent. It could also lead to a 40 per cent to 50 per cent drop in US-bound orders, causing about $4-5 billion loss. Major exporters like Welspun Living, Gokaldas Exports, Indo Count and Trident make about 40 per cent to 70 per cent of sales in the US. India said the US tariffs were "unfair, unjustified and unreasonable".

Affordable Energy Costs

India's imports are meant to ensure predictable and affordable energy costs to the Indian consumer. They are a necessity compelled by the global market situation. However, it is revealing that the very nations criticising India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion," the Ministry of External Affairs said in a statement.

National Interest

It said it was "extremely unfortunate" that the US has chosen to impose additional tariffs on India for actions that "several other countries are also taking in their national interest".

Read Also

Chandigarh: Two Arrested For ₹78-Lakh Visa Scam

The Ministry of External Affairs said in a strongly worded statement that the United States, at the time, actively encouraged such imports by India to strengthen global energy market stability.