The #USTariff hike to 50% has hit Tamil Nadu’s exports hard, especially #Tiruppur’s textile hub, causing a trade impact of nearly Rs.3,000 crore...
Chief Minister M.K. Stalin flagged a 3,000 crore rupee trade hit from American tariffs, demanding federal relief for Tiruppur textile exporters.
M.K.Stalin@mkstalinOriginal post
The #USTariff hike to 50% has hit Tamil Nadu’s exports hard, especially #Tiruppur’s textile hub, causing a trade impact of nearly Rs.3,000 crore and putting thousands of jobs at risk.
I reiterate my demands to the Union Government for immediate relief and structural reforms to safeguard our industries and workers.
Highlighting the deepening economic crisis confronting Tamil Nadu's industrial base, Chief Minister M.K. Stalin raised urgent concerns over the sharp hike in United States import tariffs to fifty percent, warning that retaliatory duties have inflicted severe distress on the export manufacturing ecosystem. Stalin pointed out that the punitive tariff escalation has generated a catastrophic trade shock of nearly 3,000 crore rupees, with the globally renowned textile and knitwear manufacturing hub of Tiruppur bearing the brunt of the downturn.
The Chief Minister stressed that the steep decline in American purchase orders threatens the livelihoods of hundreds of thousands of factory workers, weavers, and small-scale ancillary suppliers across the Kongu region. Stalin reiterated his urgent appeals to the Union Government, demanding immediate financial intervention including export subsidies, moratoriums on loan repayments, expedited working capital credit, and structural GST rationalization to safeguard vulnerable manufacturing units from imminent collapse.
Stalin emphasized that the central government has a constitutional duty to protect export-oriented state industries against foreign economic shocks. He urged New Delhi to initiate diplomatic trade negotiations with the United States to secure duty rollbacks and prevent irreversible job losses.