Export diversification while continuing to engage with the US, and calibrated import substitution can hedge against their impact

NEW DELHI: With the US announcing new tariffs on several products imported from Canada and the 25% tariff on Brazilian goods from Wednesday, all eyes are on the Trump…

Possible outcomes: Tariffs could remain the same; rates could change depending on US investigations under Section 301; US could opt for a different instrument.

The United States has imposed a 10% tariff on Indian goods under Section 301, but economists believe the immediate impact on India's exports will be limited.

The US Section 301 tariff has escalated cost challenges for Indian exporters, but it simultaneously provides a unique advantage. Competing nations are subjected to higher tariffs,…