Kanpur leather industry hit by US tariff hike, Rs 2,000 crore exports stalled
Leather trader Javed Iqbal warned the tariff hike could devastate Kanpur and neighbouring Unnao, where the industry employs nearly 10 lakh people. Lower tariffs for Pakistan, China, Vietnam, and Cambodia are expected to draw away American buyers. 'We stand with the government, even if it means bearing heavy losses in the national interest,' he said.PRODUCTION HALTED DESPITE FESTIVE ORDERSPrerna Verma, a leather accessories exporter, said confusion over the new policy has brought production to a near standstill. Demand in recent years has already fallen to 60% of previous levels, forcing some units to lay off workers.Asad Iraqi, Chairman of the Council for Leather Exports (Central Region), said that although Christmas orders have arrived, production for the US market has been halted. He met Commerce Minister Piyush Goyal in Delhi two to three days ago, where the government discussed possible relief measures—such as interest subsidies—in the case of a 25% tariff. However, with the import duty now set at 50%, such measures are unlikely to suffice. 'Buyers and sellers can manage an extra 5–10% cost but such a steep hike is beyond anyone's capacity," he said.- EndsTune InMust Watch
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