Meerut, Sept. 16 -- Uttar Pradesh's famed "Brass City" Moradabad is facing an unprecedented crisis. The 50% tariff imposed by U.S. President Donald Trump on Indian goods, in retaliation for India's oil purchases from Russia, has brought the city's thriving brass export industry to a standstill. The tariffs, which doubled from an initial 25% levy introduced earlier in August, have led to the cancellation or suspension of orders worth nearly Rs.2,000 crore, according to industry insiders. With nearly 75% of Moradabad's Rs.10,000 crore annual exports heading to the United States, the impact is devastating.
Over 500,000 livelihoods, including skilled artisans, small-scale manufacturers, and labourers, are now at risk, and several small indus...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.