India, which is negotiating a commerce pact with the US, was not included within the record of nations that obtained tariff letters from the Trump administration on Monday.
The Trump administration, on Monday, despatched the primary tranche of letters to varied nations detailing the tariffs that the US will impose on merchandise from these nations 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 nations that obtained letters signed by US President Donald Trump.
“…based mostly on further info and proposals from numerous senior officers, together with info on the standing of discussions with buying and selling companions, that it's mandatory and applicable to increase the suspension effectuated by Government Order 14266 till 12:01 a.m. Japanese daylight time on August 1, 2025,” the White Home has mentioned.
This suspension was expiring on July 9.On April 2, the US President introduced reciprocal tariffs in opposition to numerous nations, together with India (26 per cent), however paused the implementation of those duties for 90 days, giving all buying and selling companions a July 9 deadline to barter and attain a commerce cope with Washington.Commenting on this resolution, exporters mentioned the deferment of the imposition of reciprocal tariffs from July 9 to August 1 displays the US's willingness to have interaction constructively with its buying and selling companions.
“It offers an prolonged window for dialogue, which may help our negotiators to type out remaining contentious points,” Federation of Indian Export Organisations (FIEO) Director Basic Ajay Sahai mentioned.
He mentioned that the proposed tariffs, masking a dozen nations, could present India extra comparative benefit if it finalises a BTA (bilateral commerce settlement) with the US , at the least on items, by the top of this month.
One other exporter mentioned that the choice will give reduction to the home business right here because the Indian official workforce has obtained some 12-13 extra working days to speak to their US counterparts on the interim commerce deal.
Worldwide commerce knowledgeable Biswajit Dhar additionally mentioned that it's a reduction for India. “I see this as a reduction for us and this response has come as a result of India taking a powerful stand on sure points.”
FIEO President and Ludhiana-based engineering exporter mentioned although this can be a small reduction, “we're holding our fingers crossed”.
Sharing comparable views, Mumbai-based exporter and founding father of Technocraft Industries (India) Sharad Kumar Saraf mentioned that US President Donald Trump is “very unpredictable”.
“The interval of tariff suspension may be very small. Indian exporters ought to discover new markets to extend exports,” Saraf mentioned.
India and the US are negotiating a bilateral commerce settlement. They've set a deadline to conclude the primary tranche by fall (September- October) this 12 months. Earlier than that, the 2 nations wish to finalise an interim commerce deal.
In line with officers, India has already made its stand clear to the US authorities on the interim commerce deal and the ball is now in Washington's court docket.
The US has been India's largest buying and selling associate since 2021-22. In 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).
