Jaipur traders express concern over Trump tariffs, say "cannot sustain without US market"

He further hoped for a solution from the Union Government, stating that the gems and jewellery trade from Jaipur to the US is worth Rs 11 to 12 lakh crores.

"Trump's tariff will have an impact on India, particularly on the gems and jewellery sector. There is currently an atmosphere of fear among those associated with the gems and jewellery business. Still, Prime Minister, Narendra Modi, will find a solution to this soon. The gems and jewellery trade from Jaipur to America is worth 11 to 12 lakh crores, which will be affected. However, if trade routes are opened to Russia or other countries, the impact of these tariffs can be mitigated," Mangodiwala told ANI.

Zakir, who is a garment businessman, said that the US tariffs have increased their concern, mentioning that he can't sustain in the market without US business. He stated that goods worth USD 1 million have become more expensive by USD 166 million.

"There is a deep concern among garment traders about the tariff imposed by America. It is not possible to sustain his business without the American market. He said that the goods which used to cost 1 million dollars earlier, have now become costlier by 166 million dollars. This will have a deep impact on the business," he said.

The 50 per cent tariffs on imports from India to the United States came into effect on Wednesday. This follows the draft notice published by the U.S. Customs and Border Protection (CBP) that stated that the order would come in effect from August 27.

According to the notice, the additional duties are being imposed to give effect to the President's Executive Order 14329 of August 6, 2025, titled "Addressing Threats to the United States by the Government of the Russian Federation." (ANI)