WASHINGTON: President Donald Trump said Saturday he is raising the worldwide tariffs on goods entering the United States from <a href="https://www.pakistantv.com/article/trump-vows-10-global-tariff-after-stinging-court-rebuke" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">10 percent to 15 percent</a>&nbsp;&quot;effective immediately,&quot; a day after the Supreme Court largely struck down his sweeping duties.&nbsp;Trump said on his Truth Social platform that after a thorough review of Friday&#39;s &quot;extraordinarily anti-American decision&quot; by the court to rein in his tariff program, the administration was hiking the import levies &quot;to the fully allowed, and legally tested, 15% level.&quot;

Americas

President Donald Trump raises worldwide tariffs on goods entering the United States from 10 percent to 15 percent a day after the Supreme Court largely struck down his sweeping duties.

Trump announces hike in US global tariff rate from 10 to 15%

Web Desk

ISLAMABAD: India&rsquo;s opposition leader Rahul Gandhi has stepped up his criticism of Prime Minister Narendra Modi after the US Supreme Court struck down global tariffs imposed by former US President Donald Trump, triggering a fresh political row over India&rsquo;s interim trade understanding with Washington.&nbsp;In a post on X, Gandhi accused the prime minister of compromising India&rsquo;s national interest. &ldquo;PM Modi&rsquo;s betrayal now stands exposed,&rdquo; he wrote, adding that the premier &ldquo;<a href="https://www.pakistantv.com/article/congress-criticizes-modi-over-us-tariff-conditionality-on-russian-oil" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">can&rsquo;t renegotiate</a>&rdquo; and would &ldquo;surrender again.&rdquo;<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 320px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2025074652406841686&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=ceba81b994fe79e6c41b6814b5f454752c7bc856&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px"></iframe></div></div>The remarks followed a&nbsp;<a href="https://www.pakistantv.com/article/trump-vows-10-global-tariff-after-stinging-court-rebuke" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">6-3 ruling by the US Supreme Court</a>&nbsp;that the Trump administration had exceeded its authority by invoking the International Emergency Economic Powers Act (IEEPA) of 1977 to impose sweeping import tariffs.&nbsp;The court held that the law did not permit such broad trade measures.&nbsp;Reacting to the verdict, Trump called it a &ldquo;terrible decision&rdquo; and announced plans to introduce a 10%&nbsp;<a href="https://www.pakistantv.com/article/indian-garment-exporters-reel-under-us-tariffs" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">global tariff</a>&nbsp;under Section 122 of the Trade Act of 1974, which allows temporary import surcharges of up to 15% for 150 days to address balance-of-payments issues. The controversy has sparked sharp reactions from India&rsquo;s opposition. Congress president Mallikarjun Kharge questioned why the Modi government had moved ahead with what he described as a &ldquo;trap deal&rdquo; before the US court&rsquo;s ruling.<iframe id="twitter-widget-2" scrolling="no" frameborder="0" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 392px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-2&features=eyJ0ZndfdGltZWxpbmVfbGlzdCI6eyJidWNrZXQiOltdLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2ZvbGxvd2VyX2NvdW50X3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9iYWNrZW5kIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19yZWZzcmNfc2Vzc2lvbiI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfZm9zbnJfc29mdF9pbnRlcnZlbnRpb25zX2VuYWJsZWQiOnsiYnVja2V0Ijoib24iLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X21peGVkX21lZGlhXzE1ODk3Ijp7ImJ1Y2tldCI6InRyZWF0bWVudCIsInZlcnNpb24iOm51bGx9LCJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3Nob3dfYmlyZHdhdGNoX3Bpdm90c19lbmFibGVkIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19kdXBsaWNhdGVfc2NyaWJlc190b19zZXR0aW5ncyI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdXNlX3Byb2ZpbGVfaW1hZ2Vfc2hhcGVfZW5hYmxlZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdmlkZW9faGxzX2R5bmFtaWNfbWFuaWZlc3RzXzE1MDgyIjp7ImJ1Y2tldCI6InRydWVfYml0cmF0ZSIsInZlcnNpb24iOm51bGx9LCJ0ZndfbGVnYWN5X3RpbWVsaW5lX3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9mcm9udGVuZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9fQ%3D%3D&frame=false&hideCard=false&hideThread=false&id=2025088486391644220&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=ceba81b994fe79e6c41b6814b5f454752c7bc856&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px"></iframe><div class="fr-embed"> </div>He alleged that the joint trade statement included major concessions, including zero tariffs on several American exports and large-scale imports of US goods. Congress leader Dr Shama Mohamed also cited remarks attributed to Trump, quoting him as saying: &ldquo;We made a deal with India, it&rsquo;s a fair deal now, we are not paying tariffs and they are paying tariffs.&rdquo;<div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-1" scrolling="no" frameborder="0" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 665px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2025065394600579308&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=ceba81b994fe79e6c41b6814b5f454752c7bc856&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px"></iframe></div>In her post on X, she echoed Gandhi&rsquo;s criticism, alleging that the deal benefits the United States at India&rsquo;s expense.&nbsp;She also questioned whether the government was aware of the pending case before the US Supreme Court and suggested that the agreement may have been concluded under pressure.&nbsp;The Modi government has yet to issue a response to the opposition&rsquo;s latest allegations.

India

Rahul Gandhi accuses the prime minister of compromising India’s national interest; says Modi 'can’t renegotiate' and will 'surrender again.'

Indian opposition leader says 'Modi will surrender again' after US tariff ruling

WASHINGTON: US President Donald Trump on Saturday warned Canada that if it concludes a trade deal with China, he will impose a 100% tariff on all goods entering the US. Relations between the United States and its northern neighbor have been rocky since Trump returned to the White House a year ago, with spats over trade, and Canadian Prime Minister Mark Carney has denounced a &quot;<a href="https://www.pakistantv.com/article/trump-axes-canadas-board-of-peace-invitation" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">rupture</a>&quot; in the US-led global order. During a visit to Beijing last week, Carney hailed a &quot;new strategic partnership&quot; with&nbsp;<a href="https://www.pakistantv.com/article/canada-to-import-49000-chinese-evs-at-preferential-tariff-rates-pm-carney" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">China</a>&nbsp;that resulted in a &quot;preliminary but landmark trade agreement&quot; to reduce tariffs -- but Trump warned of serious consequences should that deal be realized. If Carney &quot;thinks he is going to make Canada a &#39;Drop Off Port&#39; for China to send goods and products into the United States, he is sorely mistaken,&quot; Trump wrote on his Truth Social platform. &quot;China will eat Canada alive, completely devour it, including the destruction of their businesses, social fabric, and general way of life,&quot; he said. &quot;If Canada makes a deal with China, it will immediately be hit with a 100% Tariff against all Canadian goods and products coming into the USA.&quot; Trump insulted Carney by calling him &quot;Governor&quot;&nbsp;&mdash;&nbsp;a swipe referring to the US president&#39;s repeated insistence that Canada should be the 51st US state. Trump this week posted an image on social media of a map with Canada &mdash; as well as Greenland and Venezuela&nbsp;&mdash; covered by the American flag. Canada&#39;s minister responsible for trade with the United States, Dominic LeBlanc, pushed back against Trump&#39;s latest threat. &quot;There is no pursuit of a free trade deal with China. What was achieved was resolution on several important&nbsp;<a href="https://www.pakistantv.com/article/trump-announces-greenland-framework-backing-off-force-and-tariffs" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">tariff</a>&nbsp;issues,&quot; he wrote on X. &#39;Canada thrives because we are Canadian&#39; The two leaders have sharpened their rhetorical knives in recent days, beginning with Carney&#39;s speech on Tuesday at the World Economic Forum in Davos, where he earned a standing ovation for his frank assessment of a &quot;rupture&quot; in the US-led global order. His comment was widely viewed as a reference to Trump&#39;s disruptive influence on international affairs, although Carney did not mention the US leader by name. Trump fired back at Carney a day later in his own speech, and then withdrew an invitation for the Canadian prime minister to join his &quot;Board of Peace&quot; -- his self-styled body for resolving global conflict. Initially designed to oversee the situation in postwar Gaza, the body appears now to have a far wider scope, sparking concerns that Trump wants to create a rival to the United Nations. &quot;Canada lives because of the United States. Remember that, Mark, the next time you make your statements,&quot; Trump said. Carney shot back on Thursday: &quot;Canada doesn&#39;t live because of the United States. Canada thrives because we are Canadian.&quot; He nevertheless acknowledged the &quot;remarkable partnership&quot; between the two nations. Trade spats Canada heavily relies on trade with the United States, the destination for more than three-quarters of Canadian exports. Key Canadian sectors like auto, aluminum and steel have been hit hard by Trump&#39;s global sectoral tariffs, but the levies&#39; impacts have been muted by the president&#39;s broad adherence to an existing North American free trade agreement. Negotiations on revising that deal are set for early this year, and Trump has repeatedly insisted the United States doesn&#39;t need access to any Canadian products,&nbsp;which would have sweeping consequences for its northern neighbor. Matthew Holmes, executive vice president of the Canadian Chamber of Commerce, said in a statement that he hoped the two governments would &quot;come to a better understanding quickly that can alleviate further concerns for businesses.&quot; The two nations, along with Mexico, are set to host the World Cup later this year.

Relations between the United States and its northern neighbor have been rocky since Trump returned to the White House a year ago, with spats over trade and Canadian Prime Minister Mark Carney decrying a rupture' in the US-led global order.

Trump threatens Canada with 100% tariff if it completes China trade deal

WASHINGTON: A majority of US Supreme Court justices appeared deeply skeptical of the legality behind a swath of Donald Trump&#39;s tariffs as they heard a landmark case Wednesday that could uphold &mdash; or upend &mdash; the president&#39;s economic agenda.&nbsp;Billions of dollars in customs revenue and a key lever in Trump&#39;s trade wars are at stake as the conservative-dominated panel again grappled with the Republicans&#39; attempts to expand presidential powers.&nbsp;The high court&#39;s nine justices are considering Trump&#39;s use of emergency powers to impose &quot;reciprocal&quot; tariffs on nearly every US trade partner, as well as levies targeting Mexico, Canada, and China over their alleged roles in illicit drug flows.&nbsp;In a hearing lasting more than two-and-a-half hours, several conservative justices, along with the three liberals, questioned whether the International Emergency Economic Powers Act (IEEPA) that Trump invoked confers the authority to impose tariffs.&nbsp;&quot;The statute doesn&#39;t use the word tariffs,&quot; said Chief Justice John Roberts, and imposing tariffs is equivalent to taxation, which has always been a &quot;core power of Congress.&quot;&nbsp;The justices sought to clarify whether Congress must provide explicit authorization for policies with significant economic or political consequences.&nbsp;Solicitor General John Sauer, arguing on behalf of the Trump administration, said this did not apply given the president&#39;s inherent, broad range of authorities.&nbsp;&quot;President Trump determined that our exploding trade deficits have brought us to the brink of an economic and national security catastrophe,&quot; Sauer said.&nbsp;Sauer sought to frame the issue as one involving the power to regulate foreign commerce &mdash; including the ability to impose tariffs &mdash;rather than the power to tax.&nbsp;Justice Sonia Sotomayor, a liberal, noted that the power to impose taxes is a &quot;congressional power, not a presidential power.&quot;&nbsp;&quot;You want to say tariffs are not taxes, but that&#39;s exactly what they are,&quot; Sotomayor said.&nbsp;Simply implausibleJustice Neil Gorsuch, a Trump appointee, questioned whether Congress could reclaim powers once it delegates them to the presidency, suggesting that &quot;as a practical matter in the real world, it can never get that power back.&quot;&nbsp;Neal Katyal, representing small businesses challenging Trump&#39;s tariffs, charged that it was &quot;simply implausible&quot; that in enacting IEEPA, Congress &quot;handed the president the power to overhaul the entire tariff system and the American economy in the process.&quot;&nbsp;He contended that the word &quot;regulate&quot; has also not been used to impose taxes.&nbsp;But there were questions, too, about refunds if Trump&#39;s tariffs were overturned, with Justice Amy Coney Barrett saying it could be &quot;a mess.&quot;&nbsp;The court&#39;s decision, which could take months to arrive, does not concern sector-specific tariffs Trump separately imposed, including on steel, aluminum, and automobiles.&nbsp;Trump has raised the average effective tariff rate to its highest level since the 1930s and has repeatedly warned of calamity if his duties are overturned.&nbsp;A lower court ruled in May that he had exceeded his authority, with the case ultimately making its way to the Supreme Court.&nbsp;Trump did not attend Wednesday&#39;s hearing, but several top officials did, including Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer.&nbsp;&quot;In recent years, the court has been reluctant to overrule presidential decisions of this magnitude,&quot; ING analysts said.&nbsp;But the outcome is hard to predict, they added, as &quot;upholding Trump&#39;s tariffs would shift the balance of power from Congress to the President.&quot;&nbsp;Josh Lipsky of the Atlantic Council noted that even as justices were skeptical, they appeared concerned about fallout from overruling the tariffs.&nbsp;&quot;How do the refunds work?&quot; Lipsky asked. &quot;What does this mean for the president&#39;s foreign policy ability to negotiate deals?&quot;&nbsp;Although Trump&#39;s tariffs have not sparked widespread inflation, companies say they bear the brunt of higher import costs.&nbsp;Lawyers noted that if the top court finds Trump&#39;s global tariffs illegal, the government can tap other laws to temporarily impose up to 15% duties while pursuing pathways for more lasting levies.&nbsp;Countries that have already struck deals with Trump may therefore prefer not to reopen negotiations.

Billions of dollars in customs revenue and a key lever in Trump's trade wars are at stake as the conservative-dominated panel again grappled with the Republican's attempts to expand presidential powers.

US Supreme Court appears skeptical of Trump tariff legality

Reuters

FLORIDA: Speaking to the media, US President Donald Trump said on Monday that India will continue to pay &quot;massive&quot; tariffs if they don&#39;t restrict Russian oil purchases.&nbsp; Trump said that Prime Minister Narendra Modi told him India will stop its Russian oil purchases. &quot;I spoke with Prime Minister Modi of India, and he said he&#39;s not going to be doing the Russian oil thing,&quot; Trump told reporters aboard Air Force One, reiterating what he said in the past week. When asked about India&#39;s government saying it was not aware of any conversation between Modi and Trump, Trump replied: &quot;But if they want to say that, then they&#39;ll just continue to pay massive tariffs, and they don&#39;t want to do that.&quot;

Trump warns India will continue to face ‘massive tariffs’ over Russian oil purchases

BEIJING: China said Tuesday it was ready to &quot;fight to the end&quot; in a trade war with the United States after President Donald Trump said he would slap additional 100% tariffs on goods from the country. The move, revealed in a Friday social media post, was in response to Beijing&#39;s announcement last week of sweeping new export controls in the strategic field of rare earths -- currently dominated by China. Trump also announced in the post that Washington would impose export controls &quot;on any and all critical software&quot; from November 1. The latest escalation has rattled markets and called into question a potential upcoming meeting with Chinese counterpart Xi Jinping in South Korea. &lsquo;Dialogue while threatening&rsquo;&nbsp;&quot;On the matter of tariff wars and trade wars, China&#39;s position remains consistent,&quot; an unnamed commerce ministry spokesperson said in a statement Tuesday. &quot;If you wish to fight, we shall fight to the end; if you wish to negotiate, our door remains open,&quot; the statement said. &quot;The United States cannot simultaneously seek dialogue while threatening to impose new restrictive measures. This is not the proper way to engage with China.&quot; &lsquo;It will all be fine&rsquo;Trump appeared to walk back his rhetoric in a Sunday social media post that said &quot;it will all be fine&quot;, adding that the United States wants to &quot;help&quot; China. On Monday, as the outlook for trade with the United States darkened, newly released official data for September showed that China&#39;s overseas shipments have remained resilient. Exports jumped 8.3% year-on-year last month, the fastest expansion since March and much faster than forecasts. Largest consumer market&nbsp;Shipments to the United States -- the world&#39;s largest consumer market -- picked up to reach $34.3 billion, the data showed. Chinese goods currently face US tariffs of at least 30% under levies that Trump imposed while accusing Beijing of aiding in the fentanyl trade as well as unfair trade practices. China&#39;s retaliatory tariffs are currently at 10%. The global impact of Trump&#39;s tariff onslaught is in the spotlight this week as a semi-annual gathering of the International Monetary Fund and the World Bank takes place in Washington. The White House continues to insist that the long-term effect of tariffs will be positive for the United States, pointing to their relatively muted economic impact so far.

Business

Latest escalation has rattled markets; Chinese goods currently face US tariffs of at least 30% under levies that Trump imposed; China's retaliatory tariffs are currently at 10%.

China says will 'fight to the end' in US trade war

TIRUPPUR: When Donald Trump was elected, Indian garment exporter R.K. Sivasubramaniam thought the new US president would boost business and invested heavily in anticipation of a boom. But less than a year later, everything is &quot;upside down&quot;, he admits with a pained smile. Trump&#39;s 50% tariffs on Indian goods, imposed in August, have upset the country&#39;s $11 billion textile export industry and shaken confidence in the US market. Sivasubramaniam&#39;s Raft Garments factory in southern India, typically frenetic with humming sewing machines, is quieter, and work hours have been cut, hitting employees&#39; pay packets. If his US buyers switch to other suppliers, half of his business could disappear. &lsquo;We cannot give that much&rsquo;Meanwhile, half a million garments sit in towering stacks, ready for shipment but stalled over who will pay the new duties. Buyers are asking for a 16% to 20% discount. &quot;We cannot give that much,&quot; said Sivasubramaniam, whose desk carries crossed US and Indian flags. &quot;It&#39;s a very huge loss for us.&quot; If Raft does not shoulder part of the duties, it would not be paid for garments already produced, leaving it unable to cover its costs. &quot;If it continues for another month ... we cannot give work to our employees,&quot; he warned. Financing the war in Ukraine&nbsp;Trump&#39;s anger at India&#39;s purchases of Russian oil -- which Washington says help finance Moscow&#39;s war in Ukraine -- has left New Delhi facing some of the world&#39;s steepest tariffs. A trade deal that could ease that hinges partly on progress in peace talks. But the fallout is being felt in Tiruppur, in the southern state of Tamil Nadu. Dubbed India&#39;s &quot;knitwear capital&quot; and &quot;Dollar City&quot; for its significant export earnings, the small industrial town generated $5 billion in garments last fiscal year, two-fifths of which went to the US. A grim picture&nbsp;Its lanes are dotted with thousands of units, including dyeing, embroidery, and sewing workshops. Manufacturers paint a grim picture.&nbsp;&quot;US orders have largely stopped, around 80% of the US business has reduced,&quot; said Ramesh Jebaraj of Trinity Tex. In the same season last year, he produced 100,000 garments. Now he has barely a fifth of that, forcing him to seek buyers in Israel and the United Arab Emirates. &quot;This is the situation across Tiruppur,&quot; he told AFP. &quot;Some of the bigger factories are on the verge of closing some of their units.&quot; &lsquo;Worst possible situation&rsquo;&nbsp;Alexander John of N.C. John Garments, which supplies Walt Disney, called the tariff standoff &quot;the worst possible situation any business can be in.&quot; With his US orders &quot;completely at a standstill,&quot; he has cut shifts and laid off workers. To stay afloat, he is looking to Europe and Britain, but said, &quot;None of these markets can replace the US.&quot; Three million jobs at risk&nbsp;Tamil Nadu Chief Minister M.K. Stalin has warned that up to three million jobs could be at risk across the state&#39;s textile belt, a grim prospect for a country struggling to provide well-paid work for its youth. Local industry associations say they have so far avoided widespread layoffs by agreeing to steep discounts on US shipments. &quot;In the short term, we&#39;re giving discounts to the customer ranging from 20% to 25%,&quot; said N. Thirukkumaran, general secretary of the Tiruppur Exporters Association. However, he admits that it is not a long-term solution and has pleaded for government support. <h2 style="line-height: 2;">&#39;We are helpless&#39;&nbsp;</h2>Exporters describe the move as a calculated gamble, by selling at a loss to maintain US buyer relationships while awaiting a trade deal. At RRK Cotton&#39;s facility in Palladam, 17 kilometers (10 miles) from Tiruppur, dimly-lit production halls are quieter than usual. Owner R. Rajkumar, a former tailor who built his business over three decades, has closed two factories and furloughed some of his staff. &quot;This is a situation nobody could have anticipated,&quot; he said, adding that he was running three factories fulfilling European orders and shipping some US orders after giving a discount. He fears the next ordering cycle could be disrupted if US buyers shift to rivals such as Vietnam or Bangladesh. All that depends on a trade deal. &lsquo;America has abandoned us&rsquo;Meanwhile, anger and confusion run deep among workers and business owners. &quot;My tailor ... He doesn&#39;t know what is a trade war, or why India is buying oil from Russia, and why it is affecting our lives, our bread,&quot; said Kumar Duraiswamy, CEO of Eastern Global Clothing. &quot;The problem is we are helpless,&quot; he added.&nbsp;N. Karthick Raja, 38, employed at a small embroidery unit now running reduced shifts, fears for his livelihood. &quot;If this job goes away, I don&#39;t know what I will do next,&quot; he said. &quot;America has abandoned us, more or less.&quot;

The tariffs imposed under Trump have devastated exporters in Tiruppur. Orders have dropped sharply, factories face closures, and millions of textile jobs in Tamil Nadu are now at risk.

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