Trump’s reciprocal tariffs on India: Your one-stop guide to understand the impact on different industries

Indian industry and government officials remain uncertain if US President Trump’s threat of reciprocal tariffs on trade partners, including India, will materialize on April 2. This move could significantly impact sectors spanning agriculture and industry, with varied tariff impacts, leading stakeholders to hope for deferred decisions and fair trade negotiations to minimize disruptions.

India’s tea exports reached 254.67 million kg, worth Rs 7111.43 crores in 2024, moving up to third place globally. North India contributed 60.79% in quantity and 67.96% in value. The Tea Board of India celebrates its 72nd Foundation Day on April 1, 2025.

Finance Minister Nirmala Sitharaman’s visit to London aims to address key issues related to the proposed India-UK free trade agreement and bilateral investment treaty. Discussions are expected to cover market access, investment disputes, and FDI in the insurance sector, along with increased access for Indian students and professionals in the UK.

India has suggested focusing on a bilateral trade agreement (BTA) with the US to address concerns over import duties and avoid reciprocal tariffs. Despite initiating discussions, the White House will make the final decision. Indian industry seeks protection from potential tariffs’ impacts, especially considering the US is India’s top trading partner.

Steelmakers are finalizing a mechanism to offer concessional rates for MSMEs and EEPC members, under the condition that products will be exported. This follows the planned imposition of a 12% safeguard duty on certain steel imports to protect local producers. This measure aims to prevent a domestic price surge while supporting exports.

India and the US aim to finalize a bilateral trade agreement (BTA) focusing initially on goods by fall 2023, followed by services. The pact seeks to significantly boost bilateral trade to USD 500 billion by 2030. Upcoming sector-specific talks will address trade tariffs, with US interests in industrial goods and agriculture, and India’s focus on […]

India is set to expand its preferential trade agreement (PTA) with Chile into a Comprehensive Economic Partnership Agreement (CEPA) during President Gabriel Boric Font’s visit. The goal is to double bilateral trade to $100 billion, focusing on sectors like automobiles, medical devices, and pharmaceuticals.

India’s merchandise exports are projected to fall slightly below USD 435 billion for FY 2024-25 due to factors like global oil price volatility and uncertainties. Key sectors such as petroleum products and gems and jewelry have recorded significant declines, highlighting the need for strategic interventions to support recovery.

India and the US will initiate virtual sectoral expert-level engagements for a bilateral trade agreement, progressing towards in-person negotiations to boost bilateral trade to $500 billion by 2030. The initial focus will be on tariff concessions and market access for goods.

India and the US held trade talks in New Delhi to work towards a Bilateral Trade Agreement (BTA) aimed at expanding trade to USD 500 billion by 2030. The goal is to finalize the first tranche by fall 2025, with discussions focusing on market access, reducing barriers, and supply chain integration.