Around 45% of India's exports to the US will remain exempt from the new 10% Section 301 tariff.
The Commerce Ministry said India's tariff burden is lower than that of most economies covered under the US measures.
Generic drugs, smartphones, steel, aluminium and auto parts remain outside the scope of the additional duty.
Samsung Electronics has secured a chip manufacturing contract worth more than $200 billion from Broadcom Inc., marking one of its biggest foundry wins as the two companies deepen their partnership to capitalise on growing demand for artificial intelligence infrastructure.
The five-year agreement, which runs through 2030, will focus on Samsung's 2-nanometre and below process technologies for Broadcom's products, the South Korean chipmaker said in a statement on Saturday. Bloomberg first reported the development.
4 July 2026
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The deal expands the companies' strategic collaboration across both memory and foundry technologies as demand for AI chips continues to surge.
Samsung and domestic rival SK Hynix Inc. are stepping up efforts to win global AI chip orders amid intensifying competition from Taiwan Semiconductor Manufacturing Co. (TSMC). South Korea is targeting a doubling of its memory production capacity over the next five years while strengthening its advanced chip manufacturing capabilities.
Focus On Next-Generation AI Chips
As part of the agreement, Samsung will support Broadcom's next-generation AI accelerators through its memory business.
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The collaboration will also extend to advanced packaging technologies built on Samsung's 2nm manufacturing process, including 2.3D and 2.5D integration, aimed at delivering higher-performance and more power-efficient AI and networking chips.
The partnership underscores Samsung's ambition to expand its presence in the contract chip manufacturing business, where it competes with TSMC for orders from global semiconductor companies developing AI processors.
AI Partnerships Gather Pace
The announcement comes as South Korean President Lee Jae Myung visits Silicon Valley to attend an AI summit.
Several technology partnerships are being announced alongside the visit, including collaborations involving Nvidia Corp., Naver Corp. and SK Hynix Inc., reflecting South Korea's broader push to strengthen its position in the global AI semiconductor ecosystem.
