Trump Tariffs to Bring Down Exports to US by 30%: GTRI

India's merchandise exports to the US are projected to contract 30% on-year to $60.6 billion this financial year due to the additional 25% tariffs imposed on India by President Donald Trump, a report said.

- FE BUREAU

India now faces a 25% country-specific tariff and an extra, unspecified penalty on its exports to the United States—one of the highest among Asian exporters, second only to China at 30%.

This puts Indian exports at a clear disadvantage across most sectors, barring a few exemptions," the report by Global Trade Research Initiative said.

Other competitors like Vietnam (20%), Bangladesh (18%), Indonesia, Malaysia, and the Philippines (19%), and Japan and South Korea (15%) enjoy lower rates.

The new US tariff regime excludes pharmaceuticals, energy products, critical minerals, and semiconductors. But outside these, Indian goods are under pressure.