About 55 percent of Indian merchandise exports to the United States will be subject to the rate imposed by the administration of President Donald Trump, the Indian government said Monday.
Last week, Trump imposed an additional rate of 25 percent to Indian goods as punishment for the purchases of Russian oil from Delhi. That increased the total duty of Indian exports to the US to 50 percent, among the highest in any US trade partner.
The Indian government had taken into account the 25 percent rate that Trump initially imposed on the goods while providing the estimate of Monday, said Pankaj Chaudhary, Minister of Junior Finance of India, in a written answer to a question of a legislator.
“The Department of Commerce is committed to all interested parties, including exporters and industry, to receive comments on their situation evaluation,” Chaudhary added.
Indian prime minister, Narendra Modi, said Thursday that he would not commit to the agricultural sector, one day after Trump announced 50 percent tariffs on Indian goods.
Nueva Delhi also waiting for its plans to acquire new weapons and airplanes from the USA, according to three Indian officials familiar with the matter, in the first sign of concrete discontent of India after the rates imposed on its exports by President Trump dragged the ties at his lowest level in decades.
The trade of goods between the United States and India, the largest and fifth economies in the world, respectively, was worth approximately $ 87 billion in the last fiscal year, according to the estimates of the Indian government.
