A punitive 25% tariff imposed due to India’s purchases of Russian oil adds to Trump’s prior 25% tariff on many products from India. It takes total duties to as high as 50% for goods such as garments, gems and jewellery, footwear, sporting goods, furniture and chemicals - among the highest imposed by the U.S. and on par with Brazil and China.
An Indian Commerce Ministry official said on condition of anonymity that exporters hit by tariffs would receive financial assistance and be encouraged to diversify to markets such as China, Latin America and the Middle East.
Also exempted are steel, aluminum and derivative products, passenger vehicles, copper and other goods subject to separate tariffs of up to 50% under the Section 232 national security trade law.
FAILED TALKS
“Yeah,“ said White House trade adviser Peter Navarro when asked if the increased tariffs on India’s U.S.-bound exports would go into effect as previously announced on Wednesday. He offered no further details.
Officials on both sides blamed political misjudgment and missed signals for the breakdown in talks between the world’s biggest and fifth-largest economies. Their two-way goods trade totaled $129 billion in 2024, with a $45.8 billion U.S. trade deficit, according to U.S. Census Bureau data.
Sustained tariffs at this rate could dent India’s growing appeal as an alternative manufacturing hub to China for goods such as smartphones and electronics.
However, on Tuesday the U.S. State Department and India’s Ministry of External Affairs issued identical statements saying senior officials of the ministries and defense departments met virtually on Monday and expressed “eagerness to continue enhancing the breadth and depth of the bilateral relationship.”
Both sides also reaffirmed their commitment to the Quad, a partnership that brings together the U.S. and India with Australia and Japan. - Reuters
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