If America imposes additional 25 per cent on India, around $48.2 billion of India’s merchandise export to the US is likely to be subject to those tariffs, the Parliament was informed on Tuesday.
Reciprocal tariff at the rate of 25 per cent has been imposed on certain goods exported from India to the US, starting from August 7.
Further, additional rate of duty of 25 per cent with effect from August 27 has been imposed on certain goods exported from India.
“The government has taken note of tariff imposition by the US. It is estimated that around $48.2 billion of India’s merchandise export (based on 2024 trade value) to the US will be subject to the above additional tariffs,” Minister of State for Commerce and Industry Jitin Prasada said in a written reply to a question in Lok Sabha.
He further said that the government is committed to secure and advance country’s national interest and protect the welfare of our farmers, workers, entrepreneurs, exporters, MSMEs and all sections of industry and “take all necessary steps to help mitigate impact on trade including through appropriate export promotion and trade diversification measures”.
It is estimated that around 55 per cent of the total value of India’s merchandise exports to the US is subject to the 25 per cent first line of US reciprocal tariffs.
No additional tariffs have been imposed on Indian exports to the US in sectors like pharmaceuticals and electronics as yet.
According to the minister, a combination of different factors, such as product differentiation, demand, quality, and contractual arrangements, would determine the impact of reciprocal tariffs on India’s exports, including in the textiles sector.
New Delhi has reiterated that the latest tariff actions by US President Donald Trump are “unfair, unjustified and unreasonable”. “We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India,” the government had said in a statement.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
