US Tariff Reset Spells Big Gains For Textiles, Leather But Jewellery Takes 15% Hit — Key Winners & Losers

Recent changes in U.S. tariffs are poised to significantly benefit India's textile and chemical industries, as the U.S. government has decided to reduce levies on these sectors. This favorable shift is expected to enhance Indian exports, thereby promoting growth in these areas. However, the impact is not uniformly positive across all sectors. The jewelry, gems, and handicrafts industries are facing challenges due to the introduction of a new 15% duty on these products entering the U.S. market. Analysts suggest that while textiles and chemicals will likely see increased demand and competitiveness, the jewelry sector may struggle to adjust to the heightened costs. This tariff reset reflects a broader trend in U.S. trade policy, which aims to support domestic industries while also affecting international trade dynamics. The contrasting outcomes for different sectors underscore the complexities of global trade relationships and the need for Indian exporters to adapt swiftly to changing conditions in order to capitalize on favorable developments while mitigating adverse effects from new tariffs.