The new US tariffs doubled the existing 25% duty on Indian exports. The levies hit more than 55% of goods shipped to the US — India’s biggest market — and hurt labour-intensive industries like textiles and jewellery the most. Key exports like electronics and pharmaceuticals are exempt, sparing Apple Inc.’s massive new factory investments in India for now.
President Donald Trump said India has offered to cut its tariff rates following the US imposition last week of 50% levies as punishment for its purchases of Russian oil.
“They have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago,” Trump said in a Truth Social post Monday. It wasn’t clear when the offer was made, or whether the White House plans to reopen trade talks with India.
