TEAMA urges PM to take steps to bring down US tariff
Prime Minister Narendra Modi
urging him to take urgent measures to safeguard Indian industries from rising US trade barriers.
In his letter, M P Muthurathinam, president, TEAMA, expressed deep concern over 50% tariff hike announced by US President Donald Trump. The new tariff would affect key export sectors such as textiles, automotive components, and pharmaceuticals, threatening our economy and the livelihoods of millions.
He urged immediate intervention by Union govt to protect entrepreneurs, exporters, MSMEs and the broader manufacturing ecosystem.
The association urged the Union government to hold high-level diplomatic talks with the US administration to bring down the tariff.
The association sought deferment of loan repayment obligations for affected exporters and manufacturers. It also demanded reduction in lending interest rates and provision of fresh, collateral-free credit facilities for MSMEs and export-oriented units.
The association also demanded temporary suspension of GST, income tax, and other statutory dues for affected industries.
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