US issues draft notice to enforce 50% tariffs on India from Aug. 27; Pharma, electronics exempted

NEW DELHI: The United States on Tuesday notified the implementation of additional 25% duties on Indian goods, thereby raising the overall tariff to 50%, to be effective from August 27.

According a the notice issued by the US Customs and Border Protection (CBP), the tariff will cover a wide spectrum of Indian exports, including textiles, gems and jewellery, leather, machinery, furniture and marine products. However, a few items like steel, copper and aluminium and sectors like pharmaceuticals, electronics and automobiles — passenger vehicles like SUV and sedan — have been exempted.