Indian manufacturers are like, totally freaking out about all these cheap Chinese goods flooding the market, man. From yarn and steel to toys and electronics, they’re all like, “Yo, we can’t even compete with this stuff anymore!” China is like, “Peace out, US, we’re gonna send all our goods to India now,” and now the local manufacturers are struggling to keep up.
So, even though the US and China were all chill last week and agreed to reduce tariffs, analysts are saying it’s too late, dude. All those years of tension between the US and China have already caused a huge wave of Chinese goods to crash into India and other markets, leaving the local manufacturers feeling totally left out in the cold.
Like, just the other day, the South India Spinners Association was all, “Bro, we got like 50 small spinning mills down here in the south that are slowing down production.” And now everyone’s like, “Oh snap, are we gonna have to start laying people off?” The steel sector is in the same boat, man. Small and medium-sized steel mills are seeing their capacity go way down because they can’t match those Chinese prices. It’s like, Chinese steel is going for $25 to $50 less per tonne, and these Indian mills just can’t keep up, ya know?
It all started back in 2017 when President Trump was all like, “I’m gonna start this trade war with China,” and then Biden was like, “Cool, I’ll keep it going.” And now, by 2024, China’s share of US imports dropped like 10 percentage points, but their global export share is still super high. So, they’re just redirecting all their extra stuff to other markets like India. And now, the Indian manufacturers are left scratching their heads, wondering how they’re gonna survive in this crazy competitive market. Not really sure why this matters, but hey, that’s the way the cookie crumbles, I guess.
