Trump’s tariff cut to push exports

US president slashed tariff on nearly 200 food products to make them more affordable for local consumers, following a political backlash over rising prices

- REUTERS

Indian agricultural exporters are among the winners from US President Donald Trump’s exemption of dozens of food items from his reciprocal tariffs regime, which some analysts say could help to revive lost demand.

Trump Friday removed tariffs he had imposed on more than 200 food products, including beef, as consumer concerns mount over rising US grocery prices.

Unlike EU and Vietnamese suppliers facing 15-20% duties, Indian exporters of tea, coffee, spices and cashew nuts were hit harder after Trump doubled tariffs to as high as 50% on imports of certain Indian goods, including a punitive 25% levy from the end of August on India’s Russian oil purchases.