CICU expresses concern over new US Tariff Hike on Indian Imports
Upkar Singh Ahuja, President of the Chamber of Industrial & Commercial Undertakings (CICU), Ludhiana, has expressed deep concern over the recent Executive Order issued by the President of the United States imposing Reciprocal Tariffs on imports from all trading partners.
City Air News
Apr 5, 2025 09:30
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Ludhiana, April 5, 2025, 2025: Upkar Singh Ahuja, President of the Chamber of Industrial & Commercial Undertakings (CICU), Ludhiana, has expressed deep concern over the recent Executive Order issued by the President of the United States imposing Reciprocal Tariffs on imports from all trading partners.
As per the Executive Order, a baseline ad-valorem duty of 10% will come into effect from April 5, 2025, on all imports. Furthermore, additional country-specific duties have been announced, with the additional duty on Indian goods set at 27%, as stated in Annex I of the Executive Order. These country-specific tariffs will take effect from April 9, 2025.
Ahuja emphasized that this move could have significant adverse impacts on Indo-US trade relations, particularly affecting Indian exporters across a wide range of industries. "Such high tariff rates may reduce the competitiveness of Indian products in the US market, thereby impacting export volumes, order pipelines, and overall industrial growth," he stated.
CICU urges the Government of India to engage in diplomatic and trade dialogues with the US administration to seek relief or reconsideration of these harsh tariff measures. It also calls upon exporters and industry stakeholders to prepare for possible disruptions and explore diversification strategies in export markets.
He restated CICU’s commitment to supporting the industrial community and assured to work closely with relevant authorities to mitigate the challenges posed by this development.
