The choice will present aid to Indian exporters, as each international locations are at the moment engaged in negotiations for a commerce settlement.
The US has issued tariff letters to about 20 international locations to date.
US President Donald Trump despatched out tariff letters to 6 buying and selling companions on Wednesday and pledged to announce import taxes on extra international locations later within the evening.
The Trump administration, on Monday, despatched the primary tranche of letters to 14 international locations detailing the tariffs that the US will impose on merchandise from these international locations getting into American markets from August 1.
Bangladesh, Indonesia, Japan, South Korea, Malaysia, Thailand, South Africa, Bosnia and Herzegovina, Cambodia, Kazakhstan, Lao, Serbia and Tunisia are among the many international locations that acquired letters signed by US President Donald Trump. On Wednesday, Libya, Iraq, Algeria (30 per cent), Moldova, Brunei (25 per cent), and the Philippines (20 per cent) have acquired tariff letters to date.On April 2, the US imposed a further 26 per cent reciprocal tariff on Indian items however suspended it for 90 days until July 9. Now it has been deferred to August 1.
Nevertheless, the ten per cent baseline tariff imposed by America stays in place.
The US is India's largest buying and selling accomplice from 2021-22. Throughout 2024-25, the bilateral commerce in items stood at USD 131.84 billion (USD 86.51 billion value of exports, USD 45.33 billion of imports and USD 41.18 billion commerce surplus).
