Latest news with #Southand
&w=3840&q=100)
First Post
a day ago
- Business
- First Post
More from India less from China: How politics is changing America's import basket
The shift in trade patterns is a reflection of ongoing geopolitical tensions, particularly policies pursued by the administration of US President Donald Trump, which have impacted China's dominance and opened up opportunities for countries like India read more Exports from India to US have risen, while those from China have dropped. Representational image: REUTERS India has seen a modest rise in its share of US imports in 2025, while China's position in several key segments has eroded significantly, according to data from the US Census Bureau. The shift in trade patterns reflects ongoing geopolitical tensions, particularly policies pursued by the administration of US President Donald Trump, which have impacted China's dominance and opened up opportunities for countries like India, Taiwan, and Switzerland. From January to May 2025, India's share of US imports rose to 3.1 per cent, up from 2.9 per cent during the same period last year. In contrast, China's share saw a 2.7 percentage point drop. Switzerland emerged as a top gainer with a 3.3 percentage point increase, followed by gains for the European Union and Taiwan. Mexico and Canada also registered losses, Times Of India reported. STORY CONTINUES BELOW THIS AD The reconfiguration of import sources is particularly visible in the advanced technology products segment, where China's share plunged from 14.5 per cent in the first five months of 2024 to 5.8 per cent in the corresponding period this year. Taiwan saw its share jump from 9.2 per cent to 15.8 per cent, while Mexico climbed to 14.7 per cent, up 2.3 percentage points. India, too, made gains, increasing its share from 2.3 per cent to 3.5 per cent of US imports in this high-value category. Officials noted that China's share in the electronics segment halved to 11 per cent between June 2024 and May 2025. India's share in the same period grew from 3.5 per cent to 7.2 per cent, buoyed by strong performance in mobile phone and solar cell exports. Vietnam and Mexico also benefited from the realignment of electronics supply chains. Textiles offer a similar story. China's share fell sharply from 27 per cent in June 2024 to 14% by May 2025. India increased its share from 9 per cent to 12 per cent in the same timeframe, with Vietnam capturing 18 per cent, up from 14 per cent. The shift underscores the growing traction of South and Southeast Asian exporters in low-cost, high-volume sectors once dominated by Chinese firms. 'India's apparel exports data to the US underscores the highly price-sensitive nature of the American market. Even marginal price increases prompt sourcing shifts, reflecting the intense competition in the market. In this context, tariff reduction under the India-US trade agreement becomes critical, as it will significantly improve India's price competitiveness and enable deeper market penetration across key apparel segments and help us build on the impressive growth of 13 per cent registered during 2024-25,' said Mithileshwar Thakur, secretary general of Apparel Export Promotion Council. STORY CONTINUES BELOW THIS AD However, the gains are not uniform across sectors. India saw a marginal increase in farm goods exports to the US, but its share of gems and jewellery as well as chemicals declined. Government officials acknowledged that the imposition of a 25 per cent additional tariff on automobiles and components has impacted Indian exporters. Products such as tractors, motorcycles, and mopeds have seen reduced demand. 'So far the stocks with stores in the US have helped them meet the demand but everyone is waiting for clarity on tariffs. Orders will be based on tariff advantage that a country enjoys. We are hoping that India and the US can agree on a package and we can get a good deal as demand from American consumers remains strong,' said Colin Shah, managing director of Kama Jewelry, a large exporter. The evolving trade landscape is being closely watched by Indian exporters, who hope that the ongoing negotiations with Washington will result in tariff relief and help consolidate recent gains. STORY CONTINUES BELOW THIS AD
Nikkei Asia
7 days ago
- Business
- Nikkei Asia
Japan looks beyond ASEAN to Uzbekistan, Bangladesh for more workers
Japanese companies are recruiting workers for a wide range of jobs, from manufacturing to services. (Photo by Rie Ishii) KENTA SHIMAI TOKYO -- Japan is eyeing South and Central Asian countries as sources of foreign talent, preparing for a decline in workers from Southeast Asia as economic growth in the region makes them less inclined to go abroad. Japan's Ministry of Health, Labor and Welfare will appoint a private-sector organization to speak with dispatch agencies in South and Central Asian countries such as India, Sri Lanka and Uzbekistan. They will look at labor needs in Japan as well as systemic obstacles.
CNN
11-02-2025
- Business
- CNN
The India-US trade relationship explained in 4 charts
While India has been spared any tariffs from the new Trump administration so far, Trump said recently that reciprocal tariffs will be announced on any countries with tariffs on US goods, which would include India. Meanwhile, India could be mounting a case to avoid such tariffs, as the country has recently reviewed its trade policies in a move believed to entice additional trade with the US, according to several Reuters reports. US trade policies are under the microscope after President Donald Trump enacted — or has said he's planning to enact — tariffs on the country's three largest trading partners and teased more, broader tariffs in the coming days. With Narendra Modi, prime minister of India, expected at the White House later this week, CNN takes a look at the trade relationship between the two countries. Here is what you need to know about US-India trade: The US is India's largest trade partner as of 2024, yet India ranks tenth in the list of US trading partners for the same year. The bilateral trade between the US and the world's most populous nation stands at $129.2 billion in 2024, a record for the partnership. With Trump planning to impose 25% tariffs on the US's two top trade partners, Mexico and Canada, and a 10% tariff already in effect on Chinese goods, experts say India could benefit from these strained trade relationships by exporting more technology, electronics and jewelry to America. 'The United States and India both want to enhance their economic influence in the Indo-Pacific region and blunt China's economic primacy. The time is ripe and the incentives are in place for these two leaders to beat the odds and make a major deal,' wrote Kenneth I. Juster, former US ambassador to India from 2017 to 2021, and Mark Linscott, former assistant US trade representative for South and Central Asian affairs from 2016 to 2018, in a January 21 Foreign Policy article. The trade deficit between the US and India has been widening, with the United States importing $45.7 billion more from India than it exported there in 2024. And US imports from India accounted for about 2.7% of all imported goods last year. Trump as been vocal about Modi's own penchant for tariffs, but there have been signs that the Southeast Asian country is open to cooling on levies. Earlier this month, India's finance minister slashed the import duty on motorcycles, a move benefiting American bike company Harley Davidson. The US counts pearls, semi-precious stones, pharmaceutical products, and electrical equipment among their top imports from India. In 2023, imports of the top five products going from India to the US totaled more than $47 billion. Modi is expected to visit Washington on Wednesday and Thursday this week, February 12 through 13. The two leaders spoke on the phone on January 27, seven days after Trump's inauguration, where they discussed expanding cooperation, security in the Indo-Pacific and the importance of India buying more US-made security equipment.
