American tariff on India is now 26 percent, earlier 27 percent was told

Controversy has once again arisen over the tariff policy of US President Donald Trump. In an official document issued by the White House, it has been clarified that the tariff on India will be 26 percent. However, earlier it was said to be 27 percent. This new rate will be implemented from 9 April.

A chart released by the Trump administration a few days ago mentioned the new tariff rates on countries such as China, Britain and European Union, including India. India was included in the list with allegations of “currency manipulation and business barriers”.

Changes in tariff: reduced from 27 to 26 percent

In the previously released documents, 27 percent tariffs were being imposed on India, but according to the recent update it has now been reduced to 26 percent.

• Experts believe that a reduction of 1 percent will not affect India much, but it definitely shows the severity of the policy and the direction of business relationships.

Indo-US Trade Relations: Important Statistics

The US has been India’s largest trading partner from the financial year 2021-22 to 2023-24.

• The US stake in India’s total exports around 18 percent.

• America stakes 6.22 percent in imports.

• Bilateral trade was 10.73 percent.

India’s trade surplus (difference of export and import) in 2023-24 was $ 35.32 billion with the US.
It remained as follows in previous years:

• 2022-23: $ 27.7 billion

• 2021-22: 32.85 billion dollars

• 2020-21: 22.73 billion dollars

• 2019-20: $ 17.26 billion

India’s major exports to America (2024)

1. Medicine and organic products: $ 8.1 billion

2. Telecom equipment: $ 6.5 billion

3. Precious and semi-precious stone: $ 5.3 billion

4. Petroleum Products: $ 4.1 billion

5. Jewelry of gold and precious metals: $ 3.2 billion

6. Cotton Clothing and Apparel: 2.8 billion dollars

7. Products of iron and steel: $ 2.7 billion

India’s major imports from America (2024)

1. Crude oil: $ 4.5 billion

2. Petroleum Products: $ 3.6 billion

3. Coal & Coke: $ 3.4 billion

4. Cut and polished diamonds: $ 2.6 billion

5. Electric machinery: $ 1.4 billion

6. Aircraft and Space Parts: $ 1.3 billion

7. Gold: $ 1.3 billion

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