US President Donald Trump has imposed a 26 percent tariff on Indian imports, significantly impacting sectors like textiles, engineering goods, electronics, and gems and jewellery. The move is expected to erode margins for Indian exporters and prompt investors to shift funds to safer assets given the economic uncertainty.
India’s textile, engineering goods, electronics, and gems & jewellery exporters to hit hard by Trump Tariffs
President Trump imposed a 26% tariff on Indian imports, one of the highest on major US trading partners. This follows his criticism of India’s tariffs and their trade imbalance. Despite efforts by India to reduce tariffs and make concessions, the levies pressure India to finalize a trade deal. Economists suggest the tariff’s impact will be […]
President Trump has signed an executive order imposing a ‘discounted’ 26% tariff on Indian imports, addressing the high tariffs that India places on U.S. goods. This move aims to rectify unbalanced trade relationships and stimulate American industry by enforcing reciprocal tariffs on countries with which the U.S. has substantial trade deficits.
President Trump unveiled new tariffs on allies and adversaries, targeting unfair trade practices. India, China, the EU, and Vietnam are among the countries facing significant tariffs on their goods. The ‘Fair and Reciprocal Plan’ aims to boost US manufacturing and ensure balanced trade relationships.
India’s Major ports experienced a 4.35% increase in traffic, handling 854.93 million tonnes in fiscal 2024-25. Gujarat’s Deendayal Port Authority emerged as the top performer with a 13.44% growth. However, Mormugao Port Authority saw a decline of 12.13% in cargo handling.
The U.S. has criticized India for high tariffs on agricultural goods, restrictive import regulations, and challenges for American companies, especially in technology and medical sectors. The Trump administration plans reciprocal tariffs. Issues include India’s opaque restrictions on imports, high customs duties on drugs and agricultural products, and regulations on dairy imports.
India is evaluating the impact of US President Donald Trump’s reciprocal tariffs set to be announced on April 2. The Commerce and Industry Ministry is preparing scenarios based on tariff differences and discussing non-tariff barriers with the domestic industry. Trump indicated that India and other countries will be lowering their tariffs significantly.
Indian refiners significantly increased US crude imports in March, while Russian crude imports rose despite US sanctions. Trump’s threats to impose secondary tariffs on Russian oil seem like posturing, as removing substantial Russian oil would raise prices. Indian refiners sourced more crude from the US and Nigeria, cutting back on Saudi and Iraqi imports.
The European Union is urging India to include a ‘forward most-favoured-nation’ clause in their free trade agreement, ensuring any concessions offered to the US will also be extended to the EU. The recent round of talks in Brussels saw little progress, with sticking points remaining on India’s government procurement market and tariff negotiations for various […]
India’s tariff policy aims to regulate trade, protect industries, generate revenue: Piyush Goyal
1 year ago
Commerce and Industry Minister Piyush Goyal stated India’s tariff policy aims to regulate trade, protect domestic industries, and raise revenue through taxes on imports and exports. With evolving trade dynamics, India is focusing on free trade agreements to lower tariffs, enhancing competitiveness and international trade. Monitoring imports ensures domestic industries are safeguarded under WTO rules.