US Tariffs to Cover 55% of India's Exports, Says Govt

The US levy of a 25% reciprocal tariff on goods with effect from August 7 may cover about 55% of India's total merchandise exports to America, Minister of State for Finance Pankaj Chaudhary said on Monday.

- FE BUREAU

The Department of Commerce is engaged with all stakeholders, including exporters and industry, for taking feedback of their assessment of the situation, Chaudhary said in a written reply to a question in the Lok Sabha.

"A combination of different factors such as product differentiation, demand, quality, contractual arrangements would determine the impact on India's exports," he said.

The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, exporters, and MSMEs and will take all necessary steps to secure our national interest, he said.