Extra Tariff to Hit 55% of Indian Exports to US

The additional tariffs announced by the US will impact about 55% of Indian exports to the US, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha on Monday, as reported by The Economic Times. Chaudhary emphasized that the Indian government is committed to protecting the interests of farmers, exporters, MSMEs, and entrepreneurs, and will take “all necessary steps” to safeguard national interests. The US is India’s largest export market, accounting for a fifth of its total merchandise exports of USD 437 billion in FY25. Last week, President Donald Trump imposed an additional 25% tariff on Indian goods due to Delhi’s continued purchase of Russian oil, bringing the total duty on Indian exports to the US to 50%. Separately, India hopes that trade talks with the US will continue, even as Washington raises tariffs to 50% due to India’s energy dealings with Russia. Two lawmakers cited a briefing to a parliamentary panel on foreign affairs on Monday, according to Reuters.