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USA Today
25 minutes ago
- USA Today
Phones, jewelry, linens: Which products could cost more due to Trump's India tariffs?
President Donald Trump announced the United States will impose an additional 25% tariff on Indian goods, bringing import levies on some items as high as 50%. The Wednesday, Aug. 6, order from the president comes less than a week after the first round of 25% tariff hikes were announced for the South Asian nation and significant U.S. trading partner. Trump cited New Delhi's continued imports of Russian oil as the reason behind this newest measure, sharply escalating tensions between the two countries after months of negotiations over a possible limited trade agreement fell through. The new tariffs on some Indian goods would be among the steepest faced by any U.S. trading partner. Trade analysts warned the tariffs could severely disrupt Indian exports, according to Reuters. The president's order says the additional 25% tariff will go into effect 21 days after the previously-announced 25% tariff, which was set to take hold Aug. 7. Trump announced the initial 25% tariff in a post on his social media app Truth Social on July 30, two days before a bevy of increased reciprocal tariffs went into effect for dozens of nations on Aug. 1. India, the world's fifth largest economy in 2024, relies significantly on the U.S., counting it as its top trading partner last year. Indian goods exported to the U.S. totaled $87 billion in 2024, according to the Office of the U.S. Trade Representative, with pharmaceuticals and jewelry among its top product types, followed by petrochemicals and textiles. Separately, services exports, mainly IT and professional services, were worth $33 billion last year. The U.S. is India's third-largest investor, and has a $45.7 billion trade deficit with the South Asian nation. Here are some of the products the U.S. relies on most from India, as previously reported by USA TODAY. Pharmaceuticals The U.S. accounts for nearly a third of India's pharmaceutical exports, mainly cheaper versions of popular drugs, Reuters reports, with sales jumping 16% to about $9 billion last fiscal year. Among the dozens of types of medications and supplies the U.S. imports from India, a few classifications make up a significant share. They are items like wadding, gauze and bandages; antineoplastic and immunosuppressive medications, including those used to treat cancers; and analgesics, antipyretics and nonhormonal anti-inflammatory agents, such as pain relievers and medications used to reduce fevers. Smartphones Though China and Vietnam were responsible for more than half of phones sent to the U.S. last year, India also produces a significant share, and looks to be gaining a firmer foothold in the market. According to a new report, India has overtaken China in the last few months as the top exporter of smartphones to the U.S., following Apple's pivot to center manufacturing in New Delhi amid tariff concerns. The share of U.S. smartphone shipments assembled in China fell from 61% to 25% over the past year, the research firm Canalys said, with India picking up most of the decline and increasing its smartphone volume by 240% roughly within the same time frame. More: Trump's trade talks intensify with tariff deadline fast approaching Jewelry and precious stones Next to pharmaceuticals, jewelry and precious stones are among India's top products exported to American consumers. About 30% of India's gems and jewelry exports go to the U.S., accounting for about $10 billion in annual trade, said Kirit Bhansali, chairman of the Gem and Jewellery Export Promotion Council of India, per Reuters. These goods include unmounted or unset diamonds, precious metal jewelry and jewelry clad with precious metal − such as pieces plated with gold or silver. Home linens India is among the top countries responsible for imported home linens in the U.S., representing 36% of nearly $6 billion in imports, according to a New York Times analysis of government data. These products include bathroom and kitchen linen made of terrycloth or cotton, along with bed and table linens. India is also a leader in some types of imported clothing, such as activewear, shirts, baby clothes and suits. According to the Yale Budget Lab, the tariff hikes so far have disproportionately affected clothing and textiles, with consumers facing up to 39% higher shoe prices and 37% higher apparel prices in the short run. Other products The U.S. also relies on Indian imports of frozen shrimp and prawns, petroleum oils such as transformer oil and motor fuel, semiconductor technologies like solar panels and certain types of electrical machinery and parts. Contributing: Reuters; Joey Garrison, USA TODAY. Kathryn Palmer is a national trending news reporter for USA TODAY. You can reach her at kapalmer@ and on X @KathrynPlmr.
India.com
26 minutes ago
- India.com
Trump's 50% tariffs on India! which sectors will impact? study says ‘estimated impact of…'
U.S. President Donald Trump has announced a 50% tariff on Indian goods, which will take effect from August 7. This move raised major concerns about its potential impact on the Indian economy. However, there's some good news a new report suggests the impact will be minimal. According to a study by the PHD Chamber of Commerce and Industry (PHDCCI), the tariff is expected to affect India's GDP by only 0.19%, which is almost negligible. Out of India's total exports worth $86.5 billion, only $8.1 billion around 1.87% will be affected by this move. Trump Tariffs: What PHDCCI Study Says? The paper, released by the PHD Chamber of Commerce and Industry (PHDCCI), also recommends a series of measures to mitigate the impact of US tariffs. 'Our analysis indicates that there will be an estimated impact of only 1.87 per cent on India's total global merchandise exports and a negligible 0.19 per cent on India's GDP as a result of a 25 per cent tariff announced by the US on India,' said Hemant Jain, President, PHDCCI. The study said the total potential export impact is estimated at USD 8.1 billion based on 2024-25 merchandise exports of USD 86.5 billion (1.87 per cent of India's total global export). Which Sectors Will Impact By Trump Tariffs? Among other sectors, the study said the levies would impact engineering goods (USD 1.8 billion), gems and jewellery (USD 932 million), and ready-made garments (USD 500 million). In the wake of the US tariffs, the industry body has recommended several measures, including increasing market penetration, product development and market diversification. It suggested that stakeholders should negotiate bundled-pricing deals (textiles plus accessories) to absorb some tariff cost and maintain shelf-price competitiveness. 'Leverage Indian diaspora networks (trade fairs, cultural events) to boost volume with existing buyers under current product portfolios,' it said. PHDCCI also made a strong case for investments in joint ventures with US firms to produce tariff-sensitive goods on-shore, thereby converting exports into high-value services and intellectual property (IP) licensing. (With Inputs From PTI)
Hindustan Times
26 minutes ago
- Hindustan Times
New clause could leave BCCI out of RTI ambit
New Delhi: A proposed amendment to the newly-introduced National Sports Governance Bill 2025 being circulated among Members of Parliament could put the Board of Control for Cricket in India (BCCI) outside the purview of the Right to Information Act since it doesn't receive grants or financial assistance from the central or state governments. BCCI will have to be registered as a National Sports Federation and follow the provisions of the Bill. (Hindustan Times via Getty Images) The bill, which seeks to bring in reforms in governance of Indian sports bodies, was introduced in Lok Sabha on July 23 by Sports Minister Mansukh Mandaviya and is yet to be taken up for discussion in the House, amid a continuing stand-off over the Opposition's demand over a discussion on the Special Intensive Revision of electoral rolls in Bihar. The clause 15 (2) of the bill states, 'A recognised sports organisation shall be considered as a public authority under the Right to Information Act, 2005 with respect to the exercise of its functions, duties and powers under this Act.' A new clause that is being inserted into the bill clarifies what constitutes a public authority. 'A recognised sports organisation, receiving grants or any other financial assistance from the Central Government under sub-section (1) or from a State Government, shall be considered as a public authority under the Right to Information Act, 2005, with respect to utilisation of such grants or any other financial assistance.' HT has seen a copy of the bill. Under the RTI Act, a public authority is a body 'established, constituted, owned, controlled or substantially financed by funds provided directly or indirectly by the Central Government or the Union Territory administration, the Central Government; or by the State Government.' According to people aware of the development, 'The amendment was done just to bring the bill in line with the RTI Act, 2005. BCCI might not take financial grants from the government but they do take government assistance such as infrastructure, subsidised land, state facilities, etc.' The cash rich BCCI has long resisted being brought under the RTI Act. The powerful sports body never required government recognition as a National Sports Federation as BCCI manages its own finances. However, with cricket is now an Olympic sport as part of the 2028 Los Angeles Summer Games and the Bill is seen as part of preparatyions for making a bid to host the 2036 Games. In 2018, Chief Information Commission (CIC) held the BCCI as the public authority under RTI Act, and put in place a system of online and offline mechanisms to receive applications for information under RTI Act. The Ministry of Youth And Sports Affairs was directed to take necessary steps to ensure implementation of this order. However, BCCI filed a writ petition in the Madras high court which granted a stay order. BCCI will still have to be registered as a National Sports Federation and follow the provisions of the Bill. If the Bill becomes law, it will be the first time that BCCI will become a designated 'NSF.' BCCI will have to seek recognition from the National Sports Board (NSB) and refer its legal cases to the National Sports Tribunal, both proposed in the sports Bill. According to the Bill, the National Sports Board shall have the power to grant recognition to any sports organisation as 'National Sports Body.' The NSB can suspend or cancel recognition of the sports body or its affiliate units if the provisions of the act are violated or in case it 'failed to hold elections for its Executive Committee or has committed' or there were 'gross irregularities in the election procedures.' It can also act if the federation 'failed to publish annual audited accounts or misused, misapplied or misappropriated public funds.' The NSB shall consult the respective global governing body before taking any such decision, stated the Bill. There is another proposed amendment that states a person shall not be qualified to contest for election in a federation or seek nomination to the posts of the president, secretary general or treasurer unless previously served as a member for 'at least one full term in the executive committee of the national sports body or as the president, or the secretary general or the treasurer in its affiliate unit.' In the original Bill, the duration a person needed to serve for the top three posts was two full terms as member of the executive committee. This restrictive clause, however, doesn't apply for the Sportsperson of Outstanding Merit (SOM), according to the proposed amendment.
