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As the world braces for the economic impact of US President Donald Trump’s latest tariff measures, the White House provided a list of exempted commodities.
The biggest win? India’s pharmaceutical sector, which has temporarily avoided the new levies. This is significant, as India currently imposes a 10 per cent tariff on American pharma imports, while the US does not charge any duties on Indian pharma products.
What’s exempt from Trump’s tariffs?
Following the Rose Garden ceremony, the White House confirmed that certain goods will be spared from the new tariffs set to take effect on April 5. The list includes:
- Pharmaceutical products
- Semiconductors
- Lumber articles
- Copper and gold
- Energy resources and select minerals unavailable in the US
Additionally, aluminium and steel products, automobiles, and auto components are also exempt, as they are already covered under Section 232 duties.
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Industry experts say India’s pharmaceutical sector is the biggest winner in this tariff strategy. The country imports $800 million worth of pharmaceutical products from the US while exporting $8.7 billion worth of pharma goods to the American market.
Read: Trump's tariff shock: 10 takeaways on trade impact, exemptions, retaliation
Electronics sector set to gain?
Meanwhile, a BBC report suggests that India’s electronics sector could also benefit. With higher US tariffs on countries like Vietnam, some supply chains may shift toward India, boosting the country’s exports in this space.
With the April 5 deadline approaching, analysts are closely monitoring how these tariff exemptions reshape global trade dynamics. For now, industries spared from the latest levies can breathe a sigh of relief.
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