The total import of leather products to the U.S. in 2024 was worth $14.9 billion and China has a 21.9% share. The tariff hike may see India and Vietnam, with their established leather processing clusters, well-positioned to benefit, while Thailand can cater to niche and designer segments, and Italy to premium markets, the analysis shows.

President Trump argues that tariffs up to 50% on foreign imports will benefit the US economy, claiming that high tariffs will attract companies to manufacture domestically.

President Donald Trump revealed that India is expected to lower tariffs on certain goods, signaling a positive shift in ongoing trade negotiations between the two countries. His statement follows US Vice President JD Vance's visit to Jaipur,