US revises down reciprocal tariff on India to 26% from 27%

The US Friday revised its reciprocal tariffs for India to 26% from 27% announced a day before. Revisions have been made for atleast 14 countries including South Korea, Norway, South Africa and Thailand.

As per a White House document, India’s reciprocal tariff was originally listed at 27%, as against the 26% that US president Donald Trump had shown during the announcement on April 2.

However, the latest annex document shows that the tariffs have been revised down to 26%.


The US’ trading partners will be subject to a global 10% tariff on April 5, after which only the countries listed in the annex would have their rates elevated to the revised numbers. Around 60 countries have been slapped with reciprocal tariffs.

The measures announced by the US could lead to an overall contraction of around 1% in global merchandise trade volumes this year, the World Trade Organization (WTO) said Thursday.

India has said that it is “carefully examining” the implications of the tariffs and is also “studying the opportunities” that may arise from the differential levies on countries, the government said in a statement.

Trump unleashed a barrage of tariffs going up to 99% against the country’s trading partners, making good on his long-standing threats and potentially dragging the world into a trade war as he sought to address a $1.2 billion goods trade deficit and revive local manufacturing.