Govt devises three-tiered action plan to meet US tariff challenge

 

The Commerce Department has framed a three-tiered action plan, focusing on short, medium and long-term measures, to respond to the fallout of tariff escalation by the US. The measures focus on providing immediate liquidity and compliance relief to exporters, including SEZ flexibility, maintaining order levels and employment in vulnerable sectors, building resilience in supply chains through structural reforms, and leveraging existing trade agreements and new market access opportunities. 

Supporting exporters with non-financial enablers like market access and branding initiatives, support for export compliance, export logistics and capacity building are also being considered.

Exporters across 

sectors have sought help from the government after the Trump administration imposed 25% reciprocal tariffs on Indian exports on August 7, and then doubled it to 50% twenty days later as punishment for India buying Russian oil, as per a report.

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