US President Donald Trump has announced to impose 26% tariff on India. Trump said that India is very strict and Modi is my good friend, but he is not treating us properly. That is why we are imposing this tax on India.
Many countries will be in trouble
Trump further said that India imposes 52% tariff on America and now America will impose 26% tariff on India. We will charge almost half the tariff that other countries are charging from us. These tariffs will not be completely reciprocal. But it will be difficult for many countries.
Tariffs imposed on these countries as well
America has imposed tariffs not only on India but also on many countries of the world. America has decided to impose half the tariff on about 60 countries as compared to their tariffs. America has imposed 34% tariff on India, 20% on European Union, 25% on South Korea, 24% on Japan, 32% on Taiwan and 46% on Vietnam.
Know what will be the impact on Indians
Indians will not be affected much by the imposition of tariffs by America. However, India's exports may fall by 3 to 5 percent. The worst effect of this tariff may be on the textile industry, apparel sector and jewelry sector. In 2023-24, America had a 28% share in the textile exports of about $ 36 billion (about Rs 3 lakh crore) from India, which is about $ 10 billion (about Rs 85,600 crore)