The proposed US tariffs target a wide range of Indian export goods.
This move could create trade tensions and affect bilateral economic ties.
Export sectors such as textiles, engineering goods, and chemicals are likely to be most impacted.
Trump’s Tariff Move to Hit 55% of India’s Merchandise Exports to US: MoS Finance
Minister of State for Finance warns of significant impact on Indian exports as new US tariffs loom.
Trump Tariff
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About 55% of India's total merchandise exports to the US will be subject to 25% reciprocal tariff, Minister of State for Finance Ministry Pankaj Chaudhary said on Monday.
In a written reply to a question in the Lok Sabha, Chaudhary said the government attaches utmost importance to protecting and promoting welfare of farmers, entrepreneurs, exporters, MSMEs, and will take all necessary steps to secure our national interest.
"A combination of different factors, such as product differentiation, demand, quality, and contractual arrangements, would determine the impact on India's exports," he said.
The minister was replying to a question about whether the government has made any assessment on the impact of the USA's reciprocal tariff threat on Indian goods.
"It is estimated that around 55% of the total value of India's merchandise exports to the US will be subject to this reciprocal tariff," Chaudhary said.
He said a reciprocal tariff of 25% is proposed to be imposed on certain goods exported from India to the US starting from August 7.
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US President Donald Trump has also announced an additional 25% tariff, to be effective from August 27. With this, the total tariff on Indian goods to the US is now 50%
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