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45% of India’s U.S. exports exempt from new 10% tariff

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India’s Commerce Ministry announced that 45% of its exports to the U.S. will not face a new 10% tariff, while the remaining 55% will attract lower duties than initially proposed. The government stated it is negotiating with U.S.

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45% of India’s U.S. exports exempt from new 10% tariff

The Indian government confirmed on July 25 that 45% of India’s exports to the U.S. remain outside the scope of the new 10% tariff imposed under Section 301. The remaining 55% will face the levy, which is lower than the rates applied to most other countries investigated by Washington. The U.S. Trade Representative had initially proposed a 12.5% duty but reduced it to 10% after negotiations. India is engaging with U.S. officials to further mitigate the impact of the tariffs on bilateral trade.

The HinduBusiness Standard

India Dodges Tariff Shock, Exports Remain Anxious

India has managed to avoid a major tariff shock, but the uncertainty surrounding trade tensions with the US continues to affect exporters. The country's trade policies remain a significant concern for businesses, with many still anxious about the future.

Moneycontrol.com

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