New Delhi:
As the country consider his reactions to the US President Donald Trump’s tariff, the report of how the rates were calculated, suggests that they were not absolutely mutual.
For more than half of the countries, a flat of 10 percent was installed in accordance with a mutual tariff Wall Street JournalFor other countries, an additional levy was added.
Per CNNThe number came through a simple calculation: take the country’s trade deficit with the US, divide it by exporting to the US and then multiply by half to reach the “concessional mutual tariff”.
Mike O’Rurke, the chief marketing strategist at Jones Trading, stated that tariffs are actually policies of surplus targeting. Investors accessed by CNN written in a note in a note, “It has not appeared for any tariffs used in the calculation. The Trump administration is targeting nations with large trade surpluses with the United States, especially the United States, relative to its exports.”
Trump reserved some of the highest tariffs, which he called “nations who treat us badly”. This included an additional 34 percent on goods from China – to reach the new additional tariff rate to 54 percent. The figure for the European Union was 20 percent and Japan was 24 percent.
According to a document from the White House, the US revised the import duties to apply from 27 percent to 26 percent to India. These duties will be applicable from 9 April.
The US accounts for about 18 percent of India’s total goods exports, 6.22 percent in imports and 10.73 percent in bilateral trade.
Along with the US, in India in 2023–24 goods were a trade surplus of $ 35.32 billion (the difference between imports and exports). It was $ 27.7 billion in 2022-23, $ 32.85 billion in 2021-22, $ 22.73 billion in 2020-21 and $ 17.26 billion in 2019-20.
In 2024, drug formulation and biological (U $ 8.1 billion), telecom instruments ($ 6.5 billion), precious and half-precious stones ($ 5.3 billion), petroleum products ($ 4.1 billion), gold and other precious metal ($ 3.2 billion, $ 3.2 billion, $ 3.2 billion ($ 6.1 billion), telecom instruments ($ 6.5 billion), precious and semi-precious stones ($ 5.3 billion), precious and half-precious stones ($ 4.3 billion), gold and other precious metal ($ 3.2 billion, $ 3.2 billion, $ 3.2 billion, $ 3.2 billion, $ 3.2 billion, $ 3.2 billion, $ 3.2 billion, Billion, $ 3.2 billion,), and other precious metal jewelery ($ 3.2 billion billion) were included. ($ 2.7 billion).
Import included crude oil ($ 4.5 billion), petroleum products ($ 3.6 billion), coal, coke ($ 3.4 billion), cut and polished diamonds ($ 2.6 billion), electric machinery ($ 1.4 billion), aircraft, spacecraft and parts ($ 1.3 billion), and gold ($ 1.3 billion).