These additional tariffs cOnset in key sectors to generate social and economic pressure, but are exempt products where the US has interest.
The Additional 25% tariffs applied by the US on Indian products.
It is Washington’s response to Purchase by Russian Gross Oil India, A policy that the Indian government has defended for reasons for energy security and inflation control.
Are additional rates to those who had already been imposed at the beginning of the month and cOnset in key sectors to generate social and economic pressure, such as textiles, precious stones and seafood, exempting products where the US has interestas pharmaceutical and electronic products.
India estimates that most exports will be affected
The Government of India estimates that 55% of the total value of its exports of goods to the United States will be affected by new tariffs.
A India is the fourth largest exporter of clothing for the United Stateswith a market share of about 6%. Although this number has grown in recent years, it is still behind the main Asian competitors: China, which dominates with 21%, and Vietnam, with 19%.
With the new rates, India is in great disadvantage compared to those countries, which face rates between 20% and 30%.
A White House invoked the law of international emergency economic powers (IEEPA), a national security instrument, to impose tariff policy, arguing that the purchase of Russian oil by India represents a threat to US security.
Last week, in an attempt to minimize the effect of sanctions, the Russia expressed availability to offer India an alternative exports that eventually be affected by US tariffs.
