Trump tariff tests India-US trade ties
The tariff escalation began on February 1, when Trump invoked emergency powers under the International Emergency Economic Powers Act (IEEPA), imposing a 10% tariff on Chinese imports and 25% on most goods from Canada and Mexico. These took effect on February 4, followed by a hike in Chinese tariffs to 20% on March 3. Tariffs on Canadian and Mexican goods followed.
On March 12, global tariffs on steel and aluminium were raised to 25% under Section 232, and later doubled to 50% for all countries except the UK by June 4. A 25% tariff on countries still importing Venezuelan oil took effect April 2, with further duties on automobiles and auto parts phased in.
April 2 marked a major shift as Trump declared a national emergency over the US trade deficit and imposed a 10% universal baseline tariff from April 5. A planned set of 'reciprocal' tariffs for 57 countries was suspended for 90 days—excluding China.
India, despite being one of the United States' largest trading partners, was excluded from tariff relief under Trump's revised trade regime. On July 7, Washington confirmed country-specific tariffs, and month-end, it had finalised bilateral deals with the European Union, Japan, South Korea, and the UK—capping their tariffs at around 15%. India, however, was left out and now faces the full 25% duty on its exports, effective August 1.
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