South Korean media: India's exports to the US fell by 12% in September due to a 50% tariff imposed by the United States!

On November 13, South Korean media "Chosun Ilbo" published an article stating that due to the 50% tariff imposed by the United States on India, India's exports of goods to the United States fell by nearly 12% in September.

Data from the Indian Department of Commerce showed that India's exports of products to the United States fell by 11.93% in September, reaching 5.46 billion USD. However, India's imports of goods from the United States increased by 11.78%, reaching 3.98 billion USD.

In addition, during the six months from April to September this year, India's exports to the United States only grew by 13.37%, while India's imports of goods from the United States increased by 9%.

The main reason for the sharp decline in India's exports to the United States was the 50% retaliatory tariff imposed by the Trump administration on India.

President Trump imposed a 25% tariff on India, citing India's import of Russian crude oil, which made the total tariff reach 50%. This decision took effect from August 27. Therefore, the high tariff of the United States applied fully in the month of September.

India and the United States are currently conducting final negotiations to resolve trade issues, including the United States' high tariffs.

Recently, US President Trump announced at a press conference held at the White House that Indian Prime Minister Narendra Modi assured him that India would not purchase Russian crude oil.

According to data from the Indian think tank Global Trade Research Initiative (GTRI), India's exports of goods to the United States fell by 17.9% in September.

This is the fourth consecutive month of decline and also the largest monthly drop this year.

Additionally, from May to September, India's exports to the United States fell by about 37.5%, with more than 3.3 billion USD in shipment value lost.

Ajay Srivastava, founder of GTRI, said, "In September, the 50% tariff imposed by the United States was applied to most Indian exports for the first time in a single month."

Srivastava added that the industries in India most affected by the US tariffs were clothing, jewelry, machinery, and chemicals.

At the same time, India's exports to China increased sharply by 34.18% in September, while imports into India from Chinese products increased by 16.35%.

India's exports to the United Arab Emirates, the UK, and Germany increased, while exports to the Netherlands, Singapore, and France decreased.

In terms of imports, India's imports from Russia, South Korea, Australia, and Vietnam decreased, while imports from the UAE, Saudi Arabia, and Singapore increased.

Original: www.toutiao.com/article/1848640715034698/

Statement: This article represents the views of the author.