22 hours ago
Last Updated:April 03, 2025, 14:46 IST
The revised rates show an increase of exactly one percentage point from what was initially indicated
US President Donald Trump with Prime Minister Narendra Modi. (AP file photo)
Washington has implemented a 27 per cent tariff on India, not the 26 per cent initially announced by US President Donald Trump, an order from the White House showed.
Besides India, the revised reciprocal tariff rates affect more than a dozen countries. The new rates show an increase of exactly one percentage point from the figures publicly announced by Trump earlier.
According to a review of published data by Bloomberg, the White House annex document listing future reciprocal tariff rates differed for at least 14 economies.
Countries like Pakistan, South Korea, Norway, Botswana, Cameroon, Malawi, Nicaragua, and others are also facing slightly higher tariff rates than originally announced. For example, South Korea’s rate has been adjusted from 25 per cent to 26 per cent.
Trump had said that the tariff is part of his administration’s strategy to address trade imbalances. He has repeatedly stated that India imposes high import duties on American goods, and the US aims to reduce its trade deficit while boosting domestic manufacturing.
Earlier today, Trump said that Prime Minister Narendra Modi was a “great friend" but that he had not been “treating us right." He made these comments while announcing the tariffs at the White House.
“India, very, very tough. Very, very tough. The Prime Minister just left. He’s a great friend of mine, but I said, ‘You’re a friend of mine, but you’re not treating us right. They charge us 52%. You have to understand, we charge them almost nothing for years and years and decades, and it was only seven years ago, when I came in, that we started with China," the US President said.
Location :Washington D.C., United States of America (USA)
First Published:April 03, 2025, 14:31 IST
News world Not 26%, But 27% Trump’s Tariff Imposed On India, Shows White House Order
