🚨 India-US Trade Talks Hit a Snag🤝

Former Finance Secretary Subhash Garg believes India has "effectively walked away" from trade talks with the US due to the 50% tariffs imposed by the Trump administration 💸. These tariffs, which kicked in last week, have made it nearly impossible for India to trade with the US at such high levels 🚫.

Tariffs Impact Key Sectors📉

- Textiles and Apparel: Expected to decline by $3-4 billion, putting over 2 million jobs at risk 👕

- *Gems and Jewelry: Likely to drop by 25%, affecting artisanal jobs in Gujarat 💎

- Marine Products: Forecasted to suffer a 30% volume drop, threatening coastal livelihoods and seafood infrastructure 🐟

- Pharmaceuticals: Margins squeezed by around 20%, weakening global competitiveness of Indian generics 💊

What's Next?🔮

Despite the tensions, informal backchannel talks continue, particularly around defense and foreign policy 🕊️. India remains open to future negotiations, prioritizing protection of :

- Farmers: PM Modi emphasizes India's readiness to bear any price to safeguard farmers' interests 🌾

- MSMEs: Micro, Small, and Medium Enterprises are a key focus for India in trade negotiations 📈

A Glimmer of Hope?🌟

US Treasury Secretary Scott Bessent expressed optimism about reaching a deal, stating, "India is the world's largest democracy. The US is the world's largest economy. We'll come together" 🤝. Meanwhile, Garg urges flexibility, suggesting India should reconsider its stance on imports like GM

oils or dairy to let consumers choose 🌮.

Trade Tensions Continue💣

A US court recently ruled most Trump tariffs as illegal but allowed them to stay until Oct 14 pending Supreme Court appeal ⚖️. India remains firm on its red lines, hoping for a resolution through dialogue 📞.#usa #India #TRUMP #newscrypto #altsesaon $SOL $DOGE $ARB