Mexico imposes tariffs on India following US tariffs.

Pankaj Chadha, a steel manufacturer in Mumbai, has seen his business suffer due to recent tariffs imposed by the US and Mexico, leading to a 50% drop in sales. Mexico’s decision to implement high import tariffs on non-free trade nations, including India, has caused concern among Indian businesses, with the steel industry facing a 50% hike. The Indian government has introduced measures to alleviate the impact, but the move has drawn criticism from affected countries and industry groups. India is likely to focus on export diversification in response to the tariff hike, particularly in sectors like automobiles, which have been severely affected.

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