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India’s Jewellery Exports Face Steep Decline Amid U.S. Tariffs
Diamond necklaces and earrings are displayed during a jewelry exhibition in Srinagar, Jammu and Kashmir, on April 12, 2025. India's $32 billion gems and jewelry industry braces for a sharp decline in exports, as hefty U.S. tariffs are expected to hinder overseas sales to its largest market, industry officials say. However, the U.S. announces a 90-day suspension of the additional tariffs on India, effective until July 9 this year, according to a White House executive order. On April 2, U.S. President Donald Trump imposes universal duties on goods from about 60 countries, along with additional steep levies targeting nations such as India. In response to the U.S. tariffs, China retaliates by increasing duties on American goods from 84% to 125% as part of its latest round of measures, further escalating trade tensions between the two economic giants. (Photo by Firdous Nazir/NurPhoto)
Photo Details
| Photo ID | #12254840 |
|---|---|
| Date Taken | |
| Location | N/A |
| Photographer | Firdous Nazir/NurPhoto |
| Category | Economy, Business and Finance |
| Copyright | © 2026 NurPhoto - Firdous Nazir/NurPhoto |
Related Keywords
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Srinagar
Jammu and Kashmir
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U.S. tariffs
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90-day suspension
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White House executive order
U.S. President Donald Trump
universal duties
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60 countries
steep levies
India
China
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American goods
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April 12
2025
$32 billion
July 9
April 2
Firdous Nazir
NurPhoto.
2026 NurPhoto. All rights reserved.
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