Ecstasy after agony.

"Effective today, India faces a 50% tariff on its goods exported to the US." "The 50% tariffs will impact $48.2 billion worth of export merchandise to America." TOI. "As per the Global Trade Research Initiative (GTRI), India ships about $86.5 billion worth of goods to the US each year. Of this, roughly $60.2 billion (66%) will now face the 50% tariff. Another $3.4 billion in auto parts remain at 25%, while $27.6 billion, mostly pharma, electronics and petroleum stays duty free." "Overall shipments to the US could fall 43%, threatening hundreds of thousands of jobs across India's export hubs." ET. "India has suspended an 11% import duty on cotton until September 30, in a move as a signal to Washington that New Delhi is willing to address US concerns on agricultural tariffs, while also easing pressure on its garment industry." "Cotton imports more than doubled to $1.2 billion in 2024/25 fiscal year to March." Reuters. Already, "Cotton farmers in India are facing one of the worst crises in decades." "Yields are falling in the fields, prices are dropping in the mandis, and imports are rising in the markets." India Today. On 1 April, India dropped "a 6% tax on ads that local businesses place with foreign search engines, social media and e-commerce firms." "Known colloquially as 'Google Tax,' the levy was a bad idea when it was introduced in India's 2016 budget." "In 2020, India flatly told the first Trump administration that its digital services charge was not aimed at any particular country and the decision would not be reconsidered." "All of a sudden, old hubris has been replaced by a new spirit of sacrifice." ET. "In Surat, where more than 80% of the world's rough diamonds are cut and polished, orders have started drying up with looming US tariffs shaking buyer confidence. While smaller exporters have fewer options to cushion the blow, some bigger players plan to shift part of their operations to countries like Botswana, which faces a lower 15% US tariff." Reuters. "Indian manufacturers, especially those in textile, jewellery and seafood industries, are facing severe disruptions" as "factories that supply to major US retailers such as Walmart, Target and Gap are witnessing canceled orders and reduced production." Zee. "The timing of the announcement has made things worse because nearly half of annual sales for most export businesses are made during this period, in the run-up to Christmas." BBC. This is a double whammy because, as Indian manufacturers are set to miss the festival season in the US, the loss of jobs and anxiety among workers may hit sales during the festival season in India, starting today till Diwali on 21 October. However, the government is set to reduce the goods and services tax (GST) at a two-day session starting on 3 September. TOI. Around the same time, can we expect tariffs on US goods to be dropped, for the good of India, of course, and a trade deal to be signed by Mr Modi and Trump around 26 September when Mr Modi is expected to speak at the UN General Assembly  (Zee), all discussions about retiring at the age of 75 years on 17 September (HT) forgotten in the hysterical outpourings of delirious, imbecile Bhakts (DH). After the agony, the ecstasy. What a show!