Trump’s 50% Tariff to Hit Key Indian Exports
The US will impose a 50% tariff on Indian goods — 25% as a “reciprocal” duty and 25% as a “penalty” over India’s Russian oil imports — starting August 27, unless trade talks succeed. Pharmaceuticals and smartphones are exempt for now, but Trump may revoke this.
The Global Trade Research Initiative (GTRI) warns that effective rates could touch 60% for some sectors, crippling labour-intensive manufacturing. Clothing faces the steepest hikes: knitted apparel tariffs will jump from 13.9% to 63.9%, and woven apparel from 10.3% to 60.3%. Finished textiles will rise from 9% to 59%, threatening $3 billion in exports.
Carpets (up from 2.9% to 52.9%), gems and jewellery (2.1% to 52.1%), and shrimp (0% to 50%) will also be hit hard. Exporters fear losing US market share to competitors like Bangladesh, Vietnam, Turkey, and Mexico, and some jewellery firms may shift production overseas.
Trade talks remain tense as the US pushes India to open its farm markets, but PM Modi has vowed not to compromise on farmers’ interests.
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