Textile Stocks Surge as U.S. Imposes 35% Tariffs on Bangladesh

Shares of Indian textile companies rallied over 8% on July 8 after the U.S. announced 35% tariffs on Bangladeshi garments, boosting India’s global competitiveness. Gokaldas Exports, Vardhman Textiles, and others saw strong gains. Trump hinted at a near trade deal with India while imposing steep tariffs on 14 Asian countries.