Textiles, jewellery at centre of the storm

Indian textiles, jewellery at risk of 50% Trump tariffs; pharma, phones exempt

- REUTERS

US President Donald Trump imposed an additional 25% tariff on goods imported from India this week, citing New Delhi's continued purchase of Russian oil.

The new import tax, effective 21 days after August 7, will raise duties on some Indian goods to as high as 50% - among the highest levied on any US trading partner.

While some sectors like smartphones, pharmaceuticals and energy are currently exempt from any reciprocal tariffs, other items like gems and jewellery, textiles and some auto components, which make up a large part of Indian exports to the US, will take a hit.

Below are some of the largest exports to the US from India.

SMARTPHONES

Apple Inc suppliers Foxconn Hon Hai, Tata Electronics, Pegatron Corp and Wistron Infocomm are the largest exporters from India to the US, shipping smartphones and other products worth nearly $7 billion in 2024. In the first six months of 2025, the companies have already exported goods worth $11 billion, commercially available customs data showed.

Smartphones are currently exempt from tariffs, in a win for Apple that is gearing up to launch iPhone 17 next month and has gradually increased manufacturing in India as it diversifies from China. Most iPhones sold in the US are now made in India.