50% Trump tariff kicks in

INDIA'S MERCHANDISE EXPORTS to the US were close to $87 billion in 2024.

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The exports in the current financial year, despite a 21% annual growth in April-July, could end up below $50 billion.

Of course, around 30% of exports to the US will continue to be duty-free, including pharmaceuticals, energy and electronics, but medicines too are under the threat of higher duties.

Products like steel, aluminum and copper will attract 50% import duties in the US, but these apply to all countries equally. Similarly, automobiles and auto components from all countries are subjected to a 25% duty.