New Delhi, June 17 -- Amid concerns of the ongoing tariff war hurting trade, so far India's merchandise shipments seem to be holding up. Trade data for May released on Monday showed that India's exports edged lower to $38.7 billion from $39.6 billion a year earlier.

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Imports dipped to $60.6 billion from $61.7 billion. With inward shipments dropping more, the trade deficit narrowed to $21.9 billion from $22.1 billion a year ago and the five-month peak of $26.4 billion in April.

Broadly, the numbers betray no sign of a trade crisis scuttling India's outbound cargo hauls. Trade growth has been slow. But then again, uncertainty prevails over what a US trade res...