India: US tariffs on mentha oil, brass handicrafts, and gems & jewellery exports trigger industry-wide crisis and job losses
"US tariff impact: Exports of mentha oil, brass, and gems and jewellery industries flag ‘major crisis’ amid 50% duties", 31 August 2025
Exporters have flagged a “major crisis” for the mentha oil, brass handicrafts, and gems and jewellery industries in India, as they feel impact of US President Donald Trump's hiked tariffs on Indian goods.
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..US tariffs of 50 per cent came into effect on August 27 — among the highest in the world — and up from previous 25 per cent imposed in April, after Donald Trump accused India of supporting Russia by buying its oil. The mentha oil industry is facing a major crisis with a potential loss of several crores of rupees as the tariffs threaten the livelihoods of thousands of farmers and workers.. ..The cost of our products, that were priced at $20 increased to $30 overnight due to the 50 per cent duty. The buyer there doesn't understand how to get a $30 product from India. So, orders are on hold. ..Over 10 lakh of our farmer brothers are connected to this. They will not be able to get enough money.. ..Further, exporters in Moradabad aka the ‘Brass City’ of India, are also feeling the heat. The area annually exports handicrafts worth ₹8,500-9,000 crore — of which close to 75 per cent are US-bound, while the remaining travel to the Gulf countries and Europe. ..The 50 per cent tariff imposed by the Trump administration has brought exports to a standstill. Orders worth more than ₹300 crore have already been halted.. ..the Gems and Jewellery Export Promotion Council (GJEPC) has urged the Indian government to provide immediate relief measures for the industry as their “front-loaded shipment” have been hit by unexpected penal duties.. ..The US remains India's largest market for diamonds, and the fallout of the tariffs is expected to be severe on Surat, which accounts for nearly 90 per cent of the world's diamond processing and directly employs about two lakh workers. According to the GJEPC, overall gross exports of gems and jewellery witnessed an increase of 15.98 per cent to $2.17 billion in July, and overall gross imports grew 26.55 per cent to $1.8 billion..