The United States has revised downwards the import duties imposed on India, reducing them from 27 per cent to 26 per cent, according to a White House document.
These new tariffs will come into effect from April 9.
While announcing the reciprocal tariffs on Wednesday, President Donald Trump presented a chart displaying the tariff rates that countries such as India, China, the UK, and the European Union will now have to pay.
According to the chart, India previously imposed a 52 per cent tariff (factoring in currency manipulation and trade barriers), leading the US to impose a reciprocal tariff of 26 per cent.
Initially, White House documents listed India’s new tariff rate at 27 per cent, but the latest update reflects a 1 per cent reduction to 26 per cent.
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