Govt: $48bn worth of goods to be impacted by US' 50% tariff

Govt says it's committed to secure country's national interest and protect the welfare of farmers; will take all necessary steps to help mitigate impact on trade

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If America imposes additional 25% on India, around $48 billion of India's merchandise export to the US is likely to be subject to those tariffs, the Parliament was informed on Tuesday. Reciprocal tariff at the rate of 25% has been imposed on certain goods exported from India to the US, starting from August 7.

Further, an additional rate of duty of 25% with effect from August 27 has been imposed on certain goods exported from India.