Graphic of the day: India's trade tightrope

US tariffs loom while China deficit hits $9.65bn, exposing India's import vulnerability challenge

By
Samreen Wani
Last Updated: Jan 16, 2026, 16:21 IST1 min
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India's December trade data reveals a persistent challenge amid looming US tariff effects. While the US remains a vital surplus partner, exports have fallen by 1.4 percent and imports by 23 percent in December compared to the previous month. Meanwhile, the trade deficit with China has ballooned to $9.65 billion--the second highest in 2025, highlighting a deepening import dependency.
India's December trade data reveals a persistent challenge amid looming US tariff effects. While the US remains a vital surplus partner, exports have fallen by 1.4 percent and imports by 23 percent in December compared to the previous month. Meanwhile, the trade deficit with China has ballooned to $9.65 billion--the second highest in 2025, highlighting a deepening import dependency.

First Published: Jan 16, 2026, 16:26

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Samreen Wani
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