India has not yet been included in the countries list of tariff letters released by the President of America on Wednesday. Let me tell you, India is talking on a trade agreement with the US. This decision of America regarding India will provide relief to Indian exporters. According to PTI news, the US has so far issued tariff letters to about 20 countries. US President Donald Trump on Wednesday sent tariff letters to six business partners and promised to impose import duty on late night and countries.
Avoided till 1 August
Earlier on April 2, the US had imposed an additional 26 percent mutual tariff on Indian goods, but postponed it for 90 days till 9 July. It has now been postponed till 1 August. However, 10 percent baseline tariff imposed by the US will remain in force. The US is India’s largest trading partner from 2021-22.
During 2024–25, bilateral trade of goods was US $ 131.84 billion (exports of US $ 86.51 billion, import of US $ 45.33 billion and trade surplus of US $ 41.18 billion).
These countries have received tariff letters
According to the news, the Trump administration on Monday sent the first batch of letters to 14 countries, in which the US has given details of the tariffs entering American markets from August 1 on the products of those countries. Bangladesh, Indonesia, Japan, South Korea, Malaysia, Thailand, South Africa, Bosnia and Herjegovina, Cambodia, Kazakhstan, Laos, Serbia and Tunisia include countries signed by US President Donald Trump. Till Wednesday, Libya, Iraq, Algeria (30 percent), Moldova, Brunei (25 percent) and Philippines (20 percent) have received tariff letters.
Threat to increase tariffs on drug imports by 200%
US President Donald Trump has recently threatened to increase tariffs by 200% on drug imports. This threat has been given at a time when his Trump administration started a trade investigation in the area a few months ago. Indian manufacturers have an important stake in it. According to the Indian Drug Export Promotion Council, the US stake in India’s global drug exports in 2024–25. India’s total global drug exports in 2024–25 exceed $ 30 billion.
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