
GST Cuts and the Illusion of Relief Amidst Global Tariffs
The recent Goods and Services Tax (GST) rate cuts in India have come against the backdrop of U.S. President Donald Trump's penal tariffs. On August 7, Trump signed an executive order imposing an additional 25% tariff on certain Indian goods so that these exports would now face at least 50% tariffs, compared to 30% on Chinese exports and 19% on Bangladeshi exports. Naturally, India's competitors stand to benefit, while Indian exports would decline sharply.




