look news india
Donald Trump Tariff Promise: President-elect Donald Trump has announced a 25 percent tariff on goods coming from Mexico and Canada. Along with this, it also includes imposing 10 percent tariff on imports from China. It has been told that in many posts on social media accounts, it has been said that 10 percent tariff will be imposed on imports from China.
According to the Post, on January 20 the United States will sign the necessary documents including a 25 percent tariff on products coming from the United States’ ridiculously open borders into Mexico and Canada. Thousands of people are crossing into the United States at the borders of Mexico and Canada. The crime rate in America has increased significantly in recent times.
Even now tourists are coming illegally from other borders including Mexico. Some drugs, particularly fentanyl and other illegal items, are coming into the United States from Mexico. However, some economists have warned that raising tariffs would hurt growth and increase inflation. American citizens will have to pay the cost of the tariff.
good news for india
Trump is going to take office in the third week of January. Indian exports can benefit greatly from this decision of Trump because the share of these three countries in America’s total imports is more than 40 percent. China exported $448 billion to the US last year, while Mexico exported $457 billion. Whereas India’s total exports in the financial year 2023-24 stood at $437 billion.
India will get a big opportunity
India exported $82 billion to America in the last financial year. By imposing import duty, the products of China, Mexico and Canada will become expensive in the American market, which may reduce the demand there. This will give India an opportunity to increase exports of many products like electrical and electronics, leather, apparel, machinery and toys as Indian goods will be cheaper than Chinese products in the US market.
export of cars from india
Mexico, on the other hand, is the largest exporter of cars and automobile parts to the US. Experts say that companies like Hyundai, Honda, Nissan can start manufacturing cars in India as per American requirements because exporting cars from India will be beneficial for them.