Uncertainty clouds India-US trade deal after Trump imposes new 10% tariff
CNA
The new temporary rate, imposed after the US Supreme Court struck down the president’s signature tariff policy, is lower than the 18 per cent tariff under the India-US deal.
NEW DELHI: Prospects for an India-United States trade pact remain in doubt, a week after the US Supreme Court struck down President Donald Trump’s global reciprocal tariffs.
Indian exporters are seeking clarity as Trump rolls out new duties on nearly all countries while urging partners to stick to existing trade agreements.
Businesses in India that export goods to the US now technically face a new 10 per cent additional tariff imposed by Trump. This levy is temporary and can only last 150 days before the US Congress has to step in.
The new rate is lower than the 18 per cent tariff under the framework for a trade deal that India and the US agreed upon earlier this month, but have not formally signed.
However, Trump has announced that he intends to raise the broad tariff rate to 15 per cent without formalising it with a new directive, creating more confusion for exporters.
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