Trump's reciprocal tariff: How India will be impacted?

Asian countries have been affected a lot since US President Donald Trump announced tariffs. Trump has imposed 34 percent tariffs on China, 46 percent on Vietnam and 49 percent on Cambodia.

But India's situation is much better than these countries. According to experts 26 percent tariff is still very high for India and it will badly affect Indian workers.

Experts say that this can reduce the demand in India's domestic market and will affect India's economic growth, especially when the economy is already slowing down.

Electronics industry may benefit slightly?

However, India's electronics industry may benefit slightly, because imposing higher tariffs on countries like Vietnam can change the trade route.

Still, there is a possibility of damage to India's economy due to Trump's decision.

Compared to Canada, Mexico and the European Union, India has been lenient towards Trump and is negotiating a trade agreement with the US.

It remains to be seen whether India takes any retaliatory action after this new tariff.

Pharma industry can breathe a sigh of relief

However, India's largest industrial export - the pharma industry (about $13 billion) can breathe a sigh of relief, as medicines have been exempted from the tariffs imposed by Trump.

29% tariff on Pakistan, 37% on Bangladesh

Meanwhile, Trump released the list of tariffs imposed on countries around the world.

This list has been posted by President Trump's office on its X (formerly Twitter) handle. India's name is also included in this list.

Trump has imposed a 26 percent tariff on India.mAt the same time, tariffs have been imposed on India's neighboring countries at different rates. In this announcement, 34% tariff has been imposed on China, 29% on Pakistan, 37% on Bangladesh, 44% on Myanmar and Sri Lanka.

Trump has imposed a 20 percent tariff on the EU. President Trump has already been calling April 2 as 'Liberation Day'.

Earlier, the US had imposed a 10 percent tariff on goods coming from China on February 4. Which was increased to 20 percent on March 4.

At the same time, the US has imposed a 25 percent tariff on goods imported from Canada and Mexico from March 4. Apart from this, 10 percent tariff has been imposed on energy related imports from Canada.