Apparel, Textiles, Diamonds, gold, Carpets, Organic chemicals, furniture, shrimps, machinery and mechanical appliances are among the sectors that will be the most affected by additional 25% tariffs imposed by the United States of America. With this hike, the cumulative tariff on India adds up to 50%. This additional 25% tariff will come into effect from Aug. 27, as per the order.
Apparel (knitted) products, which account for 34.5% of US share in India's exports, face the highest total tariff payable at 63.9%, followed by apparel (woven), with a 32.2% US share in India's exports and a total tariff payable of 60.3%.
Textile (made-up) products, with a 48.4% US share in India's exports, are subject to a total tariff of 59%, followed by organic chemicals with a 13.2% US share in India's exports will see a total tariff payable at 54%.
Meanwhile, carpets, which have a 58.6% US export share and a total tariff payable of 52.9%, followed by furniture which account for 44.8% of US share in India's exports, face a total tariff payable at 52.3%.
Meanwhile, diamonds, gold, and related products, with a 40% US share in India's exports, face a total tariff payable of 52.1%.
Machinery and mechanical appliances, with a 20% US share in India's exports, are subject to a total tariff of 51.3%, followed by shrimps with a 32.4% US share in India's exports will see a total tariff payable at 50%.
United States President Donald Trump has slapped an additional 25% tariffs on India for the purchase of Russian crude oil, the White House said on Wednesday. This comes a week after Trump announced 25% reciprocal tariffs against India, starting from Aug. 7, citing the country's "trade barriers" and the wide deficit in the India-US trading relations.
India has been hit with a cumulative 50% tariffs, while products from the country make up only 2.7% of US imports, as per the data compiled by NDTV Profit Research.
The cumulative tariff on India, is at par with the import levies imposed by the Trump administration against Brazil.
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