The cumulative 50 per cent tariffs imposed by the President Donald Trump administration on Indian goods will come into effect exactly a fortnight from now, unless something dramatic happens between the two countries on the trade deal front in the meantime.
The US reciprocal tariffs will affect approximately USD 8.1 billion worth of India's exports to the US, while the overall impact on India's economy remains manageable, said an analysis by the Industry body PHDCCI.
Hours after he mentioned raising tariff on India, US President Donald Trump on Tuesday said he would increase the tariff charged on imports from India from the current rate of 25% "very substantially" over the next 24 hours due to New Delhi's continued purchases of Russian oil, Reuters re
Indian exports to the US are projected to decline by nearly 30 per cent, from USD 86.5 billion in 2024-25 to about USD 60.6 billion in 2025-26, as the new 25 per cent reciprocal tariffs come into effect, according to Global Trade Research Initiative (GTRI).
Indian shrimp exporters will face a new, unprecedented challenge in US markets after the imposition of reciprocal tariffs on India, said Rahul Guha, Senior Director at Crisil Ratings.
US stock markets faced heavy selling pressure on Friday (local US time) after President Donald Trump implemented fresh reciprocal tariffs on 70 countries, including India.
Experts from across Indian industries have expressed confidence in the resilience of the Indian economy amid the US President Donald Trump's decision to impose a 25 per cent tariff on Indian goods, describing the move as impactful in the short term but unlikely to dent India's long-term econ
United States President Donald Trump has signed the fresh executive order imposing revised tariffs for 70 countries, including India and Pakistan in a move that is expected to further strain global trade relations.
The US administration has, in a way, adopted a flexible trade strategy by offering reduced tariffs to countries that pledge reciprocal benefits such as increased purchases of US goods, removal of trade barriers, or investment in American industries.
While some trade and industry leaders warned of short-term disruptions, others expressed confidence that India's strong manufacturing base, especially in sectors such as pharmaceuticals and medical equipment, would help it withstand the impact and forge new trade partnerships.
Industry association FICCI on Wednesday expressed disappointment over US President Donald Trump's decision to impose a 25 per cent tariff on Indian goods and said the move is unfortunate and will have a clear bearing on India's exports.
Claiming that the US-Indonesia trade deal was a "clear example of how aggressive US pressure can force" countries to ink one-sided agreements, think-tank Global Trade Research Initiative (GTRI) suggested India to be careful and not "fall into the same trap".