Buyers are reassessing existing orders, with some seeking discounts. They are also exploring the best possible sources for imports, given the varied but steep reciprocal tariffs, exporters said
India and the US are holding intense discussions on a proposed 'fair, balanced and equitable trade deal' bilateral trade agreement
The Department of Commerce has been holding internal meetings, chaired by Commerce Secretary, to firm up a strategy in this connection
The geopolitical uncertainties are forcing European nations to scout for new markets, including India, considering it is one of the fastest-growing large economies
27% US levy on Indian goods threatens biggest export market; could dent domestic GDP growth by 30-50 basis points in FY26
Till now, American buyers were already keeping their orders on hold owing to the lack of clarity on reciprocal tariffs
India is among countries on which Trump has imposed substantial tariffs, ranging from 46 per cent on Vietnam to 17 per cent on the Philippines, which will kick in from April 9
Aside from air cargo, shipments transported by sea arriving after April 2 are likely to be subject to the new tariffs, compounding the uncertainty
The statement came just days before Trump plans to outline country-based reciprocal tariff plans on April 2 to counter "unfair trade practices" that, according to him, have hurt America for decades
Dubs India's 17% average import levy 'highest of any major world economy', before reciprocal tariff rollout
He, however, promises to be 'much more generous'
However, economists say country's strong fundamentals, lower inflation hold hope
Interministerial talks to explore tariff cuts and market access; key sectors under focus include EVs, oil derivatives, plastics, and sensitive farm goods like dairy and almonds
The next level of the proposed bilateral trade agreement will be held virtually, eventually looking to finalising the broad contours of trade deal; meanwhile, the threat of reciprocal tariffs kicking
Apart from the additional tariffs that have been imposed on Mexico, China and Canada by the US, these countries account for 50 per cent of the US's total imports, which stands at over $3 trillion
Among digital services, one of the contentious issues on the table is India's data localisation norms - cross-border flow of data - that have been a concern for American companies
India calculating impact of 25% duty on cars, auto parts; firms see hit on margins
Nearly 34 states and union territories (UTs) have pre - published draft rules and it has been done in a harmonized, standardized manner, Dawra said
Since taking over as the US President over two months ago, Trump has been implementing protectionist policies in an attempt to Make America Great Again
The US administration has said it will impose reciprocal tariffs from April 2 to match the tariff and non-tariff barriers on imports from America