US slaps 26% tariff on India amid ongoing bilateral trade talks

Manoj Kumar - Reuters - 03/04
The U.S. slapped a 26% reciprocal tariff on India in a setback to the South Asian country's expectation of getting relief from President Donald Trump's global trade policy that has unnerved world markets for weeks.
  • US reciprocal tariff effective from April 9
  • India's non-tariff barriers hurt US exports, White House says
  • US move will add pressure on India to speed up trade talks
  • US move could push India towards other trade blocs, expert says
NEW DELHI, April 3 (Reuters) - The U.S. slapped a 26% reciprocal tariff on India in a setback to the South Asian country's expectation of getting relief from President Donald Trump's global trade policy that has unnerved world markets for weeks.
The reciprocal tariff will be effective from April 9, according to a statement from the White House.

Sign up here.

Trump's Wednesday announcement on India was part of his wider plan to impose a 10% baseline tariff on all imports from April 5 and higher duties on certain other countries including 34% on China and 46% on Vietnam.
"They (India) are charging us 52% and we charge almost nothing for years and years and decades," Trump said at the White House while announcing the reciprocal tax.
The duty of 26% was based on tariff and non-tariff barriers including currency manipulation, the Trump administration said.
India imposed "uniquely burdensome" non-tariff barriers, the removal of which will increase U.S. exports by at least $5.3 billion annually, the White House said in a statement.
The tariffs would remain in effect until Trump determined that the "threat posed by the trade deficit and underlying non-re...
[Short citation of 8% of the original article]