AsianFin -- India estimates that roughly 55% of its merchandise exports to the United States will be affected by the latest tariffs imposed by President Donald Trump’s administration, the government said on Monday.
Trump last week announced an additional 25% duty on Indian goods in response to New Delhi’s purchases of Russian oil, lifting the total tariff on Indian exports to 50%—one of the highest rates faced by any U.S. trading partner.
The estimate already factors in Trump’s earlier 25% levy, junior finance minister Pankaj Chaudhary said in a written reply to parliament. He added that the Commerce Department is working with exporters and industry groups to assess the impact.