Minister of State for Commerce and Industry Jitin Prasada confirmed that if the U.S. imposes an additional 25% tariff on top of the existing reciprocal 25% tariff, it will affect around $48.2 billion of India’s merchandise exports to the U.S.. This move would place a 50% tariff on certain Indian goods, making them uncompetitive. The government is committed to protecting the welfare of farmers, workers, exporters, and MSMEs and is taking necessary steps to mitigate the impact of the tariffs.
Prasada stated that the tariffs, which are linked to India’s continued purchase of Russian oil, are “unfair, unjustified, and unreasonable”. The article also notes that while a reciprocal tariff has been in place since August 7, the additional 25% tariff is expected to come into effect on August 27.