According to the report’s sectoral impact on U.S. reciprocal tariffs: neutral to negative impacts,” the expected direct impact of U.S. countdown tariffs will vary, as there is no expected impact on drug expectations because it is temporarily not subject to reciprocal tariffs.
The impact on electronics, textiles, agricultural products, chemicals, as well as automobiles and parts is expected to be largely neutral, according to the rating agency. At the same time, this is negative for gems and jewelry.
During the 2023-24 period, India’s total exports to the United States were US$77.5 billion, while imports from the United States were US$42.2 billion.
Among India’s total exports to the United States, the sectors in valuable order are electronics, textiles, medicines, gems and jewelry, agricultural products, chemicals and automobiles, and parts.
So far, the U.S. has been charging an average of 3.50% of imports to India, Taiwan accounts for 32% of Indonesia, 32% and Pakistan 29%, which is a benefit for India’s key export sector, according to the rating agency. In the key export sector of India in his second term, President Trump reiterated his position on tariffs, highlighting the U.S. deals, including international fair countries, including India’s fair countries, to ensure India’s fair countries, to ensure India’s fair countries, to ensure his fair countries.
On April 2, the U.S. President issued an executive order on reciprocity tariffs, imposing additional freight responsibilities on the import value of all trading partners, ranging from 10% to 50%. The 10% baseline tax will be effective from April 5, 2025, and additional freight taxes for the remaining specific country will be effective from April 9, 2025. The additional tax in India is 26%.
