Trump tariffs | Nothing CEO Carl Pei’s strategy amid global trade uncertainty: ‘Looking to increase exports from India’

Nothing CEO Carl Pei's strategy amid the ongoing global trade uncertainty triggered by US President Donald Trump's tariff hikes is to increase exports from India. In an ask-me-anything (AMA) session on ‘X’ (formerly Twitter), Pei replied to a user's question who asked, “How is Nothing looking to manage uncertainty around tariffs and global trade?”

Tariffs are a key tool in global trade battles. Countries impose tariffs on imports to protect their local industries, but these measures can have ripple effects on economies worldwide. Simply put, a tariff is a tax imposed by a country on imported goods. Hence, higher tariffs make foreign products more expensive, potentially reducing their imports

The Indian economy thrives on trade. Here's a look at the top trading partners (FY 2023-24):

Top import sources:

-China (15 per cent)

-US(eight per cent)

-UAE (seven per cent)

Top Export Destinations:

-US (17 per cent)

-UAE (six per cent)

-China (five per cent)