Donald Trump Tariff: In the official residence of the US President’s official residence and office ‘White House’, the import duty imposed on India has been reduced from 27 percent to 26 percent. The fees will be applicable from April 9. US President Donald Trump showed a chart on Wednesday (April 2), announcing a tariff against different countries, referring to the new tariff rate to be imposed on countries like India, China, Britain and European Union.
According to the chart, India charges 52 percent fees including “currency manipulation and trade barriers” and the US will now charge a discounted counter -fee of 26 percent from India. However, there was a mention of levying 27 percent fees on India in the White House documents, but in the latest documents it has been reduced to 26 percent.
Lower will not have much effect
Asked in this regard, industry experts said that one percent of the fee being reduced will not have much effect. The American FY was India’s largest commercial partner from 2021-22 to 2023-24. America’s stake in India’s total goods exports was around 18 percent, 6.22 percent in imports and 10.73 percent in bilateral trade. India’s trade surplus (difference between imports and exports) on goods in 2023-24 with the US was US $ 35.32 billion. It was US $ 27.7 billion in 2022-23, US $ 32.85 billion in 2021-22, US $ 22.73 billion in 2020-21 and US $ 17.26 billion in 2019-20.
America exports from India
In 2024, India’s main exports included drug manufacturing and organic ($ 8.1 billion), telecommunications equipment ($ 6.5 billion), precious and semi-precious stone ($ 5.3 billion), petroleum products ($ 4.1 billion), gold and other precious metal jewelery ($ 3.2 billion), cotton prepared clothes ($ 2.8 billion) including accessories ($ 2.8 billion) including accessories ($ 2.8 billion). Import included crude oil ($ 4.5 billion), petroleum products ($ 3.6 billion), coal and coke ($ 3.4 billion), chopped and polished diamonds ($ 2.6 billion), electric machinery ($ 1.4 billion), aircraft, spacecraft and its parts ($ 1.3 billion) and gold ($ 1.3 billion).
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