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India.com
19 minutes ago
- India.com
Despite Trump's 25% Tariff, How India Still Beats Pakistan, Bangladesh On Trade Balance
New Delhi: Even as U.S. tariffs on Indian goods climb to 25 percent, the numbers tell a more layered story. Despite the blow, India still holds a stronger position in trade dynamics than some of its closest neighbours. In 2024, Indian products entering the American market faced an average effective tariff of 17.4 percent. That is lower than the 19.9 percent slapped on Bangladeshi goods, the 18.1 percent faced by Pakistan and Sri Lanka's 19.2 percent. These figures come from a recent analysis by Moneycontrol that measured the effective duties levied by the United States on major South Asian exporters. U.S. President Donald Trump, who reimposed tough trade penalties last month, had pointed fingers at India in a strongly worded post on July 30. 'Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world. They have the most strenuous and obnoxious non-monetary trade barriers of any country… INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST,' he wrote on Truth Social. However, data on what economists call the tariff differential, the gap between what a country pays in U.S. tariffs versus what it charges on American imports, suggests India's trade relationship with Washington remains more balanced than many others in the region. India's tariff differential currently stands at 11.3 percentage points. That is significantly narrower than Bangladesh's 17.2-point gap or Pakistan's 13.6 points. Another regional exporter, Vietnam faces a 13-point spread. Bangladesh's position appears the most lopsided: its exports are hit by the highest U.S. tariffs, but it barely charges American goods in return. Meanwhile, India maintains an average 6.1 percent tariff on U.S. imports, more than Bangladesh but less than others, offering a cushion against the recent spike from Washington. Neighbouring Asian countries such as Thailand and the Philippines fare slightly better in terms of tariff balance, with gaps at 6.4 and 9.8 points respectively. But their trade mix is different, heavily skewed towards electronics and intermediate goods. India's exports to the United States, on the other hand, lean heavily on pharmaceuticals, garments, jewellery and consumer products. These sectors are more vulnerable to tariff hikes. While India's trade ties with Washington remain under strain, the data reflects that it may still be navigating the turbulence more stably than its regional peers.
Time of India
an hour ago
- Time of India
'Unreasonable': India hits back at Trump tirade on Russian oil
External Affairs Minister S Jaishankar (ANI file photo) In its first direct public pushback against US President Donald Trump's repeated targeting of India over trade with Russia, the Centre termed his criticism "unjustified and unreasonable". It said like any major economy, New Delhi will take all necessary measures to safeguard its national interests and economic security. In an official statement, ministry of external affairs said the US itself continues to import uranium hexafluoride for its nuclear industry, palladium for its EV industry and fertilisers as well as chemicals from Russia. The response, a rare outpouring of frustration with Trump's rants, followed another outburst by the US president in which he accused India of buying massive amounts of Russian Oil and selling it in the open market for big profits, while threatening to substantially raise tariffs on imports from India. MEA added that India's imports are meant to ensure predictable and affordable energy costs to Indian consumers and are a necessity compelled by global market situation. "...It is revealing that the very nations criticising India in trade with Russia. Unlike our case, such trade is not even a vital national compulsion," said spokesperson Randhir Jaiswal.
Hindustan Times
an hour ago
- Hindustan Times
India responds boldly as Trump drops 2nd tariff hammer over Russian oil with 'they don't care' post
India responds boldly as Trump drops 2nd tariff hammer over Russian oil with 'they don't care' post
