US revises reciprocal tariff on India downwards from 27 pc to 26 pc

THE United States has revised downwards the import duties to be imposed on India from 27 per cent to 26 per cent, according to a White House document.

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These duties will come into force from April 9.

While announcing the reciprocal tariffs against different countries on Wednesday, US President Donald Trump held up a chart that showed the tariffs that countries such as India, China, the UK, and the European Union will now have to pay.

The chart indicated that India charged 52 per cent tariffs, including currency manipulation and trade barriers, and America would now charge India a discounted reciprocal tariff of 26 per cent.

Earlier, the White House documents showed a 27 per cent duty on India.

However, as per the latest updates, it has been revised downwards to 26 per cent.

When asked, industry experts said one per cent would not have much of an impact.