Trump’s reciprocal tariff has Panipat exporters worried
US President Donald Trump’s reciprocal tariff has raised concerns of the exporters of the 'textile city’ as almost 50 per cent of handloom products are being exported to the US only.
The exporters have submitted their representation to Union Minister for Commerce and Industries Piyush Goyal through Handloom Export Promotion Council (HEPC). Handloom products such as cushions, blankets, bedsheets, bed covers, top bed items, bath mats and other products are being exported from Panipat to the US, European countries, US, Japan, Australia and almost all other regions of the world. The handloom industry in the ‘textile city’ has an annual turnover of over Rs 50,000 and exports products worth Rs 20,000 crore.
US biggest importer of handloom items
As per the official information, the US is the biggest buyer of handloom products from Panipat, importing almost 50 per cent of the total consignments meant for the global market
Panipat Exporters’ Association president Lalit Goyal said the export of handloom products was to the tune of over Rs 10,000 crore per annum and they had requested the Centre to reduce the import tariff
Vinod Dhamija, the chairman of the Haryana Chamber of Commerce and Industries, Panipat Chapter, said exporters were really concerned about Trump's reciprocal tariff, which might be finalised on April 2. Reciprocal tariff would definitely impact exports from Panipat as over 50 per cent of the total products exported from the city find market in the US, he said, adding, "If reciprocal tariffs were implemented, the competition would increase more for Panipat exporters."
Lalit Goyal, chairman, HEPC, and president, Panipat Exporters’ Association, said the announcement of reciprocal tariff by Trump was a matter of concern for the exporters. “We have submitted a representation through HEPC to the Union Minister and requested him to resolve the matter at the earliest,” he said.
Goyal further said India imported machine-made carpet that invited 22 per cent tariff while the export tariff was around 0-6 per cent on handloom products. Though the import of machine-made carpet from the US was of only Rs 50 crore, the export of handloom products was to the tune of Rs 10,000 crore per annum, he said. "We have requested to reduce the import tariff from the Union Government to protect the industry from Trump's reciprocal action," Goyal said.
