A decision by US President Donald Trump to double tariffs on Indian imports took effect on Wednesday, raising duties to 50% on a wide range of products.
India’s Commerce Ministry said affected exporters would receive financial support and be encouraged to diversify into markets such as China, Latin America, and the Middle East. The US Customs and Border Protection agency granted a three-week exemption for shipments already en route before the deadline.
Bilateral trade in goods totaled $129B in 2024, with the US posting a $45.8B deficit. Export groups estimate the higher tariffs could hit 55% of India’s $87B in shipments to the US, opening opportunities for competitors like Vietnam, Bangladesh, and China.
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