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Informist, Friday, Apr. 4, 2025

 

NEW DELHI – The US has revised the tariff on India back to 26%, after a White House document showed a different rate compared to what US President Donald Trump had originally announced early Thursday. Trump had announced that the US will impose a reciproal tariff of 26% on India, which was shown as 27% in the Annex of the White House executive order. This has now been changed to 26%.

 

Along with India, the White House has fixed the tariff rates for other countries such as South Korea to what Trump had announced on Thursday. The US has imposed reciprocal tariffs on its trading partners in a bid to revive domestic manufacturing and lower the trade deficit. 

 

The Indian government has said it is currently examining the implications of the US reciprocal tariffs and that it expects the US administration to take forward matters related to the trade pact in the coming days and expedite the discussions. India has also ruled out retaliatory measures against the US tariffs and the government is instead pinning all its hopes on the bilateral trade agreement, a government official said on Thursday.

 

Economists expect India's GDP growth to be hit around 30-50 basis points from the impact of US tariffs.  End

 

Reported by Shubham Rana

Edited by Vandana Hingorani

 

 

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