Ritesh Kumar Singh is founder and chief executive of policy research and advisory company Indonomics Consulting in New Delhi.
After announcing a 25% import duty on steel and aluminium, U.S. President Donald Trump is threatening to impose “reciprocal tariffs” on countries with high import barriers affecting American exports. India’s weighted average tariff on U.S. merchandise is effectively 9.5%, compared to the 3% the U.S. imposes on Indian exports. However, disparities in sectoral tariffs are more pronounced, as India maintains high import duties on agricultural products, automobiles, chemicals and pharmaceuticals.
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