India bunched with small nations in high US duty rates

WITH the US embarking on a massive 'protectionism' era, India stands to be the biggest collateral damage of this exercise.

- DIPAK MONDAL @New Delhi

The newly modified tariffs announced by the US government on Friday placed India among the major economies facing the highest duty rates—25% or more. Other countries in this bracket are mostly smaller or geopolitically isolated nations such as Syria, Laos and Iraq. However, he pushed its start date to August 7, injecting a little more uncertainty.

What is particularly concerning is that most ASEAN and South Asian countries—key competitors in labor-intensive exports such as textiles and leather—have been spared the steep hikes. Vietnam, Bangladesh, Malaysia, Indonesia, and Cambodia now fall in the 19-20% tariff range.