India Secures 10% US Tariff Relief for Drugs and Smartphones
Updated
Updated · Bloomberg · Jul 26
India Secures 10% US Tariff Relief for Drugs and Smartphones
3 articles · Updated · Bloomberg · Jul 26
Summary
India said talks with Washington placed it in the lower tier of Trump’s new tariffs, giving its exporters an advantage in the US market.
Key shipments including generic pharmaceuticals and smartphones remain exempt from the additional 10% levy the US imposed last week, according to India’s commerce ministry.
The ministry said it is now pushing for an early conclusion to a bilateral trade agreement to lock in broader trade gains.
The relief fits into Trump’s tariff rollout, which took effect Friday with more than 470 product exemptions covering goods the US says are scarce or important for affordability.