No addl tariffs by US on Indian pharma, electronics

NEW DELHI : The Government on Tuesday said no additional tariffs have been imposed on Indian exports to the US in sectors like pharmaceuticals, and electronics so far. In a written reply to the Lok Sabha, Minister of State (MoS) for Commerce and Industry Shri Jitin Prasada said reciprocal tariff at the rate of 25 per cent has been imposed on certain goods exported from India to the US, effective August 7.

It is estimated that around 55 per cent of the total value of India’s merchandise exports to the US is subjected to this reciprocal tariff, he said, adding that additional ad valorem rate of duty of 25 per cent with effect from August 27 has been imposed on certain goods exported from India.

“No additional tariffs have been imposed on Indian exports to the US in sectors like pharmaceuticals, and electronics as yet,” Prasada said. He also said the government is engaged with all stakeholders, including exporters and industry, for taking feedback of their assessment of the impact from the reciprocal tariffs imposed by the US.