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Goodwill is the only saviour for Indian exporters hoping for U.S. tariff refunds – Cash My Currency- Financial Updates | Business Blog Post | Financial Guest Posting Services

Goodwill is the only saviour for Indian exporters hoping for U.S. tariff refunds

Goodwill is the only saviour for Indian exporters hoping for U.S. tariff refunds

Despite sharing the burden of the tariffs, the Indian exporters are not eligible for any refunds since those refunds are aimed at U.S. importers who paid the tariffs to the government. The only way Indian exporters can receive any benefit is if they request their U.S. importers to share some of the benefit. File
| Photo Credit: The Hindu

Exporters in India say they took on a portion of the cost of the 50% tariffs imposed by the U.S. in order to retain American customers, but now the only way they can benefit from the refunds process started by the U.S. government is by relying on the goodwill of their American business associates. They have no official recourse. 

The U.S. government on April 20 started the process for refunding the reciprocal tariffs imposed by its President Donald Trump since April last year. The system is to function through an online mechanism, and only American importers are eligible to avail of the refunds.

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