Agri, plastics, textiles will face more than 30 PC tariffs starting April 9: GTRI

According to GTRI analysis, from April 9, industries including agriculture, meat, processed food, plastics, textiles and clothing will face import tariffs of more than 30%. Goods from India are already facing a 25% tariff on steel, aluminum and cars. For the rest of the products, India is subject to a 10% basic tariff between April 5 and 8. The tariffs will then be raised to 27% for countries starting from April 9. More than 60 countries have been affected by the measures.

The Global Trade Research Program (GTRI) also said that diamonds, gold and products will face a 29.12% responsibility; chemicals 28.06 per ventilation tax; and import tax for electrical, telecommunications and electronics 27.41% import tax.

Similarly, machinery and computers; iron, steel and alkali metal products; textiles and clothing; agriculture, meat and processed foods will attract 28.3%, 29.06%, 35.99% and 32.29% of total tariffs, respectively.
India’s agricultural, meat and processed food exports will be US$6 billion in 2024. Diamonds, gold and products ($11.88 billion); chemicals ($11.88 billion); electrical, telecommunications and electronics ($14.4 billion); textiles and clothing ($10.8 billion); and machinery, computers ($7.1 billion).

Currently, agriculture, meat and processed foods in the United States face an average tariff of 5.29% in the United States. Diamonds, gold and products are 2.12%; 1% for chemicals; 0.41% for electrical, telecommunications and electronics; 4.38% for plastics; 1.3% for machinery, computers; 8.99% for textiles and clothing; and 2.06% for iron, steel and alkali metals.