U.S. imposes 10% tariffs on imports from 60 trading partners; India says 45% of its exports unaffected
The U.S. announced permanent 10% tariffs on imports from 60 trading partners, including India, due to concerns over forced labour goods. India's Ministry of Commerce and Industry stated that about 45% of its exports to the U.S. would remain outside the purview of these new tariffs. The Centre highlighted that the 10% tariff is lower than the initially proposed 12.5% and that many key Indian exports like generic pharmaceuticals and smartphones already attract zero additional duties. Products under Section 232 of the U.S. Trade Expansion Act (steel, aluminium, auto parts) are also exempt. India continues engagement with the U.S. on a quota-based system for textile exports and for a Bilateral Trade Agreement.
Key Points
- The U.S. has imposed a 10% tariff on imports from 60 trading partners, including India, citing concerns over forced labour goods.
- India's Ministry of Commerce and Industry stated that 45% of its exports to the U.S. would not be affected by these new tariffs.
- The new 10% tariff is lower than the initially proposed 12.5% on India and some other countries.
- Key Indian exports like generic pharmaceuticals, smartphones, and products already covered under Section 232 (steel, aluminium, auto parts) are exempt from the additional 10% duty.
- India is actively engaging with the U.S. on a quota-based system for textile exports and for a Bilateral Trade Agreement.
Exam Facts
- U.S. announced 10% permanent tariffs on imports from 60 trading partners.
- India's Ministry of Commerce and Industry stated 45% of India's exports to the U.S. are unaffected.
- The new tariff is 10%, lower than the initially proposed 12.5%.
- Products under Section 232 of the U.S. Trade Expansion Act (steel, aluminium, auto parts) are exempt.
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