US 500% Tariff Threat on India Sparks Export Stock Plunge

ECONOMY
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AuthorAnanya Iyer|Published at:
US 500% Tariff Threat on India Sparks Export Stock Plunge
Overview

US President Trump approves a bipartisan bill proposing a 500% tariff on countries trading with Russia, including India. This has triggered a sharp sell-off in Indian textile and shrimp export stocks, with shares of Gokaldas Exports, Avanti Feeds, and others tumbling significantly as they rely heavily on the US market.

US Tariff Threat Escalates

The United States is moving forward with a significant economic measure that could impact global trade. A bipartisan sanctions bill, approved by President Trump, proposes a staggering 500 percent tariff on goods from countries continuing business with Russia. This includes India, which has faced scrutiny for its energy purchases from Moscow.

Export Stocks Face Sell-off

Indian export-oriented companies bore the immediate brunt of this news. Shares of Gokaldas Exports plummeted nearly 13%, trading at ₹596.65. Avanti Feeds saw its stock drop by almost 7%, while Apex Frozen Foods declined by over 6%. Pearl Global Industries also slipped around 6%. These companies heavily rely on access to the American market, making them vulnerable to such tariff threats.

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