Government Vigilance on Import Surge

Amid concerns of trade diversion from China, Vietnam, and other Asian countries, the government has intensified its monitoring of imports following Donald Trump's announcement of reciprocal tariffs. A dedicated inter-ministerial group, including senior officials from commerce, revenue, and industry departments, has been established to closely watch consumer goods imports.

Focus on Key Sectors

There are growing apprehensions about potential surges in cheap and subsidized imports in sectors such as electronics, chemicals, and steel from China. The import monitoring group plans to involve officials from other ministries and seek assessments from trade bodies to stay ahead in the volatile global trade environment.

Strategic Measures and Export Promotion

The government is also leveraging tools like the customs risk assessment mechanism to address suspicious trades. Concurrently, efforts are being ramped up to assist exporters in exploring new markets, with the commerce department accelerating its export promotion mission and negotiations for free trade agreements with the EU, Oman, New Zealand, and the UK.