New 50% tariffs on Indian imports have dramatically increased prices for traditional Diwali items from saris to gold jewelry. Small business owners in Indian-American communities report sales declines up to 70% during what’s typically their busiest season, with broader implications for U.S.-India economic relations.
Tariffs Transform Diwali Celebrations and Business Realities
The festive spirit of Diwali, traditionally marked by vibrant celebrations in Indian-American communities across the United States, has been significantly subdued this year, according to reports. Sources indicate that 50% tariffs imposed on goods imported from India in late August have caused prices to skyrocket on everything from traditional clothing to festive foods and gold jewelry.