India, which is negotiating a trade agreement with the United States, is not among the countries to which the Trump administration has issued tariff letters as of Wednesday.
The decision will provide relief to Indian exporters, as both countries are currently negotiating a trade agreement. So far, the US has issued tariff letters to approximately 20 countries.
Key Highlights
- India omitted from Trump’s 14-country tariff letters, sparking rupee relief and steady equity benchmark performance.
- While other BRICS nations faced potential 10% tariffs, India stayed excluded pending ongoing trade negotiations.
US President Donald Trump sent tariff letters to six trading partners on Wednesday and promised to impose import taxes on more countries later that night.
On Monday, the Trump administration sent the first tranche of letters to 14 countries outlining the tariffs that the US will impose on products from those countries entering American markets beginning August 1.
Countries that received letters signed by US President Donald Trump include Bangladesh, Indonesia, Japan, South Korea, Malaysia, Thailand, South Africa, Bosnia and Herzegovina, Cambodia, Kazakhstan, Laos, Serbia, and Tunisia. Libya, Iraq, Algeria (30%), Moldova, Brunei (25%), and the Philippines (20%) all received tariff letters as of Wednesday.
Also Read: New Trump Tariffs Could Hit India Hard: 200% on Medicines, 50% on Copper
On April 2, the United States imposed an additional 26% reciprocal tariff on Indian goods, but suspended it for 90 days until July 9. The date has now been pushed back to August 1. However, the 10% baseline tariff imposed by America remains in effect.
Since 2021-22, the United States has been India's largest trading partner. During 2024-25, bilateral trade in goods totaled USD 131.84 billion (USD 86.51 billion in exports, USD 45.33 billion in imports, and USD 41.18 billion in trade surplus).
