Hours after US President Donald Trump announced a 26% reciprocal tariff on Indian imports, a senior Indian government official stated that the Ministry of Commerce is currently assessing the potential impact of these duties. The official described the move as “a mixed bag and not a setback” for India.
According to a report by PTI, the official noted that the universal 10% tariff will apply to all imports into the US starting April 5, with the additional 16% set to take effect from April 10. “The ministry is analyzing the implications of the announced tariffs,” the official said, emphasizing that the Trump administration has a provision to reconsider or reduce tariffs if a country addresses Washington’s concerns.
India and the US are already engaged in negotiations for a bilateral trade agreement, with both sides aiming to finalize the first phase of the deal by fall (September-October) of this year.
Potential Sectoral Impact
Industry experts suggest that the impact of the tariffs will vary across sectors. CNBC sources indicate that while some industries may benefit from the changes in competitive dynamics, others could face increased challenges. The Indian government is expected to issue a formal statement along with a detailed analysis of the tariff implications.
Items Exempted from US Reciprocal Tariffs
Certain commodities will not be subject to the newly imposed US tariffs. These include:
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Minerals and ores
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Coal
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Oil and petroleum products
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Most chemicals
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Pharmaceutical products
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Fertilizers
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Plastics and polymers
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Books and printed materials
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Metals, including precious metals
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Semiconductors
With trade negotiations ongoing, India will be closely monitoring further developments to safeguard its economic interests while seeking potential concessions from the US administration.
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