KEY HIGHLIGHTS
US Tariffs On India: Key Highlights
Here are the key highlights of Trump's latest tariff spree:
Trump announces a 25% levy plus penalties on Indian goods over purchasing oil from Russia and association with BRICS, even as trade deal talks remain unresolved.
Trump is reportedly frustrated with the slow progress in US-India trade negotiations.
"You'll know at the end of this week on India tariffs," said Trump.
The Indian government has taken note of the development and is studying its implications, reiterating that national interest will be prioritised.
Leading exporters and industry bodies have expressed deep concern over the sudden move.
The rupee is likely to open weaker amid global uncertainty and tariff concerns.
With this, we end our coverage of the Trump's trade tariffs for the day. Goodnight, readers!
US Tariffs On India Live: Textile Players Likely To Get Affected
Textiles and garments, which rely on the US for about 28% of exports, are vulnerable to the latest 25% levy. Himatsingka Seide (83% US revenue), Welspun Living (63%) and Alok Industries (45%) are among the top exposed. A shift in cost structures due to increased tariffs could hit already thin margins.
Since the US also supplies a large portion of India’s cotton imports, the sector faces a double blow — higher costs and reduced demand.
Trump Tariffs Impact: India Inc, Exporters Mark Concern
India Inc. and leading exporters have voiced deep concern over US President Donald Trump's announcement of a 25% tariff on Indian goods, calling the move "politically motivated, economically disruptive, and detrimental to strategic ties".
Agneshwar Sen, Trade Policy Leader at EY India, called the tariffs “an unfortunate development,” but expressed optimism that contentious issues would be resolved soon.
FICCI echoed this sentiment, calling the decision “disappointing.” It added that the move could have a “clear bearing on India’s exports,” but hoped the tariffs would be a “short-term phenomenon.” The chamber expressed confidence that ongoing US-India talks would lead to a beneficial outcome.
India Responds To Trump Tariffs, Says Protecting Farmers, MSMEs, 'Securing National Interest'
"We attach the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs," the Ministry of Commerce said in an official statement.
"The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the UK," it added.
Read more
US Tariffs On India Impact: Rupee Likely To Open Weaker
The Indian rupee is likely to open on a weak note on Thursday after logging its sharpest single-day fall in nearly three months, with traders expecting the Reserve Bank of India to step in to prevent a breach of the critical 88-per-dollar mark, according to four people with knowledge of the matter.
Read the whole story here.
Trump Tariff News: How Indian Markets May React
"The stock market may open tomorrow with a knee-jerk reaction after the latest US tariff announcement of 25%. However, it remains to be seen if the trade deal gets postponed upon negotiations to decide when the tariff will kick in. Going by the recent past, the Trump administration is notorious to be playing its trade tactics, bringing in more twists and turns for trading partners," said Kranthi Bathini, Equity strategist, WealthMills Securities Pvt Ltd.
Read the whole story here.
Trump Tariffs On India Live: Stiff Challenge For Textile Sector, Says CITI Chairman
The Confederation of Indian Textile Industry (CITI) feels that the new US tariff rate for India presents a stiff challenge for India’s textile sector.
"Without a doubt, the new tariff rate is going to seriously test the resolve and resilience of India’s textile and apparel exporters as we will not enjoy a significant duty differential advantage vis-à-vis many other countries, except Bangladesh, with whom we compete for a larger share of the US market. The lack of clarity on the penalty amount further adds to the uncertainty for businesses as planning becomes difficult," CITI Chairman Rakesh Mehra said.
US Tariffs On India Live: Read Full Statement By India
The Government has taken note of a statement by the US President on bilateral trade. The Government is studying its implications.
India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective
The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs.
The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the UK.
US Tariffs On India Live: India Studying Tariffs, Says Government
The Government has taken note of the US President's statement on bilateral trade and is assessing its implications, as per NDTV sources. While committed to concluding a fair and balanced trade agreement with the US, India emphasised its priority remains protecting farmers, entrepreneurs, and MSMEs. As with past agreements like the UK trade deal, all necessary steps will be taken to safeguard national interest.
Trump Tariffs On India Live: India Betting On Dialogue Over Confrontation
NDTV Profit has learnt that India is unlikely to resort to retaliatory tariffs in response to the US' recent imposition of 25% duties, with top government sources indicating that New Delhi is betting on dialogue over confrontation.
Officials believe excessive tariffs may ultimately hurt US demand, making them counterproductive. The government remains hopeful of concluding a bilateral agreement by October.
Trump Tariff News: GJEPC Chief Flags Impact On Jewellery Sector
"The Indian gem and jewellery sector, in particular, stands to be severely impacted. The United States is our single largest market, accounting for over $10 billion in exports—nearly 30% of our industry’s total global trade. A blanket tariff of this magnitude will inflate costs, delay shipments, distort pricing, and place immense pressure on every part of the value chain—from small karigars to large manufacturers," said Kirit Bhansali, Chairman of GJEPC.
Trump Tariffs On India Live: GDP Likely To Witness Downside Risks
The growth in India's gross domestic product can see some downside risks, while the current account deficit can widen for the ongoing fiscal after the US' imposition of tariffs on India, according to economists.
Read the whole story here.
India US Trade Deal Live: Timeline Of Negotiations
PM Modi’s visit to US, meet with President Trump resulted in a India-US Joint Statement on Feb. 13
Statement called for ‘new, equitable’ trade terms as Trump started second term
Modi’s visit was followed by Commerce Minister Goyal’s visit from March 4-6
US delegation visited India between March 26-29
Since March, at least five visits between sides have been completed
Apart from five in-person rounds, online sectoral tracks have been continuing
Minister Piyush Goyal has visited US twice, held meetings with counterpart Howard Lutnick
Sixth round of talks scheduled for Aug. 25, US team set to visit New Delhi
Talks now focused on first tranche of BTA with fall (September-October) deadline
Trump Tariffs Live: Unfavourable Outcome, Says IFA Global Founder
"The tariff rate is higher than expected. The market was expecting a rate lower than 20%, which would have given us a distinct edge over our APAC peers," said Abhishek Goenka, Founder & CEO of IFA Global.
"India it seems has got the most unfavorable outcome which was not priced in at all. Moreover, there is uncertainty around the penalty that would be imposed for procuring Crude from Russia. This will likely keep markets on the edge," he added.
Trump Tariffs On India Live: Trump Frustrated With India Trade Deal Progress
Speaking to CNBC, economist Kevin Hassett said President Donald Trump is frustrated with the progress made in trade negotiations with India. Hassett added that the 25% tariff was intended to address and remedy the situation, expressing hope that India would eventually open up its markets to the United States.
Trump Tariffs On India Live: All Indian ADRs Down
Indian ADRs were trading lower across the board. As of 7:15 p.m., ICICI Bank ADR was down 1.20% at $33.38, while HDFC Bank ADR slipped 1.06% to $76.64. Wipro ADR declined 1.79% to $2.75, Infosys ADR dropped 0.78% to $17.08, and Dr. Reddy’s Labs ADR saw the steepest fall, down 3.83% at $14.20.
India US Trade Deal: Jaishankar Meets Goyal
External Affairs Minister S Jaishankar met Commerce Minister Piyush Goyal on the sidelines of the ongoing Parliament session, sources said. The meeting comes against the backdrop of the 25%+ tariffs that have been imposed on Indian goods by Trump.
Trump Tariff News: China Responds To US Tariff Aggression
On the US' implications of significantly raising tariffs on China for purchasing Russian oil, the Ministry of Foreign Affairs of China tweeted "China will always ensure its energy supply in ways that serve our national interests. Tariff wars have no winners. Coercion and pressuring will not achieve anything. China will firmly defend its sovereignty, security and development interests."
Trump Tariffs Live: Trump States Trade Deficit With India Too High
"WE HAVE A MASSIVE TRADE DEFICIT WITH INDIA!!!" said the President in a post on Truth Social.
US Tariffs On India Live: India Should Not Panic, Says DK Mittal
"India should not panic right now," said DK Mittal, stating that "this is no surprise."
"We should keep our heads low and keep talking to them. This is the only way to deal now," he added, emphasising that conversation with the US is the only thing.
US Tariffs On India Live: QUAD Partnership May Allow 15% Rate, Says Manish Chokhani
"It is naturally a difficult phase in the USA-India friendship. However I am sure the ongoing FTA talks and the emerging QUAD partnership will allow the “natural ally” rates of 15% to emerge as the two economies have a lot of complementarities and shared geo-political interest. Let us wait for better times ahead even as we tackle this bump in the road." said market expert Manish Chokhani.
Trump Tariffs Live: Gift Nifty Sees Sudden Dip
As of 6:26 p.m. IST, the GIFT Nifty index was trading 0.62% lower or 154 points down at 24,700 points.
India US Tariff News Live: Markets To Discount Tariffs, Says Ajay Bagga
The market will have a small reaction, said market expert Ajay Bagga, adding that they will discount this news very fast.
Trump Tariffs On India LIVE: When To Expect India-US Trade Deal
India and the US have been locked in negotiations for an interim trade agreement for months. Despite multiple rounds of discussions in recent months, a mini or an interim trade agreement has remained elusive.
While both sides had signaled an agreement is close, the negotiators could not finalise the pact before the Aug. 1 deadline. A Reuters report on Tuesday, citing sources, said the trade pact could be finalised by September-October.
Trump Tariffs On India LIVE: Here's What Trump Said
"Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country. Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!" stated Trump's Truth Social Post.
Trump Tariffs On India LIVE: 25% Levies Announced As Trade Deal Remains Awaited
India is set pay a tariff of 25% on top of a penalty related to its purchases of Russian military equipment and Russian energy, said US President Trump in a post on Truth Social.
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