NEW YORK/WASHINGTON:India will face tariffs of 25 per cent on its exports to the US as President Donald Trump issued an executive order listing the various duties that Washington will impose on exports from countries around the world.
In the Executive Order titled ‘Further Modifying The Reciprocal Tariff Rates’, Trump announced tariff rates for nearly 70 nations.
A 25 per cent “Reciprocal Tariff, Adjusted” has been imposed on India, according to the list released. The executive order however does not mention the “penalty” that Trump had said India will have to pay because of its purchases of Russian military equipment and energy.