Out of 57 countries affected by the Trump administration’s retaliatory tariffs, India comprises 16 countries to be excluded. A comparative analysis of the latest tariff tables shows that India will now pay a 26 percent ‘reciprocal tariff’ instead of the previously advertised 27 percent, as announced in the White House’s official document.
India was added to the US punitive measures because of the unfair trade barrier being created by America against its products. For most products, the reciprocal tariff will be added to the import duties in place. President Donald Trump had already mentioned a 26 percent additional tariff on Indian imports when he announced the new global reciprocal tariffs on Wednesday in Washington, DC. But the country-specific chart in Annexure 1 of the White House document, which is titled ‘Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and Persistent United States Goods Trade Deficit’, originally featured 27% as India’s tariff.
Indian government officials confirmed Thursday that the US imposed a new tariff of 27% in retaliation. However, the revised tariff table now reduced India and other 15 nations by 100 basis points.
Other countries that took a hammering with a downward revision in their tariffs include Bosnia and Herzegovina (36% to 35%), Botswana (38% to 37%), Cameroon (12% to 11%), Falkland Islands (42% to 41%), Malawi (18% to 17%), Myanmar (45% to 44%), Nicaragua (19% to 18%), Norway (16% to 15%), Pakistan (30% to 29%), the Philippines (18% to 17%), Serbia (38% to 37%), South Africa (31% to 30%), South Korea (26% to 25%).
It comes after a more comprehensive review of how the US conducts trade and is largely in response to ongoing conflict between the US and other world economies, including India, about global trade.
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