Textile Stocks Fall On Trump Tariff News After US Signs Russia Sanctions Law
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Gokaldas Exports fell over 3.50%, while Vardhman Textiles, Arvind, Garware Technical Fibre and Indo Count Industries also traded lower after the US signed a Russia sanctions law allowing tariffs of up to 100% on countries buying Russian energy.
Gokaldas Exports and other textile stocks traded lower on Monday, 21 September, after US President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law.
The legislation gives the US administration the power to impose tariffs of up to 100% on countries purchasing Russian crude oil and natural gas.
Which Textile Stocks Are Under Pressure?
Selling was visible across textile stocks on Monday. At 12:57 pm on 21 September on the National Stock Exchange:
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Vardhman Textiles was trading at ₹560.00, down 3.12%.
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Arvind shares stood at ₹541.10, lower by 2.08%.
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Garware Technical Fibre was at ₹800.05, down 2.31%.
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Indo Count Industries declined 2.13% to ₹437.80.
Among the textile stocks, Gokaldas Exports recorded the sharpest decline, falling 3.68% to ₹701.00.
Why Are Textile Stocks Falling Today?
The latest weakness comes after the US enacted Russia sanctions legislation that expands the White House's authority to use tariffs against countries that continue buying Russian energy. The bill sets a maximum tariff of 100%, but that rate does not kick in automatically. The US government will decide whether to use the new tariff powers and what rate to apply.
The White House can also change, delay the implementation of, or waive a tariff. It can suspend enforcement if it considers this necessary to protect US economic interests or strategic alliances. The rate may also be changed if a country takes significant steps to reduce or shift its purchases of Russian energy.
Could The New US Tariff Powers Affect Indian Exporters?
A blanket 100% tariff on Indian goods would have several economic implications for Washington.
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Inflation: Higher US tariffs on Indian consumer goods could make imports more expensive for US households. That could add to price pressures.
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India-US trade talks: India and the US are negotiating a comprehensive trade agreement. The new tariff powers could add another issue to those talks.
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Global energy supplies: Any change in India’s purchases of Russian crude could affect the flow of oil in international markets. India has maintained that energy security is an important consideration, while the US legislation is aimed at putting pressure on countries continuing to buy Russian energy.
The market reaction comes as investors assess the possible trade implications of the new US law. The eventual impact on Indian exporters will depend on whether and how Washington exercises its tariff powers.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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