Donald Trump's reciprocal rates: How will it affect Indian exports?

April 3, 2025 01:31 pm, the reciprocal rates, with baselines of 10 percent on all countries, announced by Donald Trump from the White House on Wednesday. US President Donald Trump has slapped a “discount” of 26 percent’s reciprocal tariff on goods from India that entered the United States, along with different charges on other countries, increasing trade barriers. US President Donald Trump, on April 2, 2025, held a signed executive order on rates in the Rose Garden in the White House in Washington DC, USA, with the baselines of 10 percent of all countries, announcing the US President as ‘Liberation Day’ of the White House. Also read: Bitcoin, other cryptos fall after Trump tariff investor risk appetite kills Trump tariffs: Who will be most affected in India? According to a report by Reuters news agency, it is one of the leading sectors to be hit by US rates, almost $ 14 billion in electronic products and more than $ 9 billion in gems and jewelry. The White House said that pharmaceutical products, which according to government data are nearly $ 9 billion exports from India, and energy products have been released under the latest round of reciprocal rates. Although the 26 percent tariff does not apply to auto parts and aluminum products, they will still attract the 25 percent tariff that Trump announced earlier. In contrast, the US had previously had a sector -wide average rates on Indian goods from sectors such as cars, gemstones and jewelry, chemicals and pharmaceuticals and electronic products, at 1.05 percent, 2.12 percent, 1.06 percent and 0.41 percent, respectively, according to the data from the global research research. Also read: Tesla’s quarterly sales note as the setback against Elon Musk grows, the retaliation rates have arisen as the US has a $ 46 billion trade deficit with India. The US places a 2.5 percent rate on the import of passenger vehicles, while India imposes 70 percent, the White House said in a statement. It has been added that apples are allowed to enter the US service -free, but India places a 50 percent duty on US apples coming to India, and that rice only attracts a 2.7 percent levy in the US, but attracts 80 percent rates in India. The US also sets up a 0 percent tariff in network switches and routes, but India raises the rate of 10-20 percent, the statement added. Also read: Global stock markets dive as the reciprocal rates of Donald Trump, Tech, the worst that the prospects are? When Premier Narendra Modi visited the US in February, the two countries agreed to start talks that led to an early trade transaction to solve the lead on rates. India may be open to reducing rates significantly for more than $ 23 billion to US goods, according to the report. Read Breaking News, the latest UK updates, UK, Pakistan and other countries around the world on topics related to politics, crime and national matters. Read Breaking News, the latest UK updates, UK, Pakistan and other countries around the world on topics related to politics, crime and national matters. See fewer