US President Donald Trump has asserted that Washington will not spare India from reciprocal tariffs – ‘Whatever you charge, we charge,’ he said

India’s average tariff rate of 17% is one of the highest among big economies, as compared to 8% for China, 13% for South Korea, 11% for Brazil, and 5% for the EU. US has 3%

India cuts tariffs

Luxury cars, including station wagons and racecars, priced above $40,000, now attract a duty of 70% from  the earlier 125%

Duty on high-end motorcycles reduced to 40% from 50% Semi-knocked down (SKD) kits cut to 20% from 25%; completely knocked down (CKD) units to be taxed at 10% from 15%

Basic Customs duties for lithium-ion batteries used for electric vehicles in India totally scrapped Who benefits: Both Tesla and Harley Davidson, who are significant players in Trump administration

28 items in mobile phone battery production exempted from Customs duty that arrive the US or China Who benefits: America’s Apple, which cornered a 23% share in total revenue from India during 2024

Tariffs reduced from 150% to 100%

The US accounts for about 1/4th of all such liquor imports in India

India imported bourbon whiskey worth $2.5 million in 2023-24

Bourbon whiskey

In 1964, bourbon whiskey, made from corn, rye or wheat and malt, was declared a ‘distinctive product of the United States’

Who benefits: US brands like Suntory's Jim Beam, Woodford Reserve

In 2024, exports to the US included

Drug formulations: $8.1 bn Telecom instruments:  $6.5 bn Precious and semi-precious stones: $5.3 bn Petro products: $4.1 bn Gold, jewellery: $3.2 bn Iron and steel: $2.7 bn

Imports

Crude oil: $4.5 bn Petro products: $3.6 bn Coal, coke: $3.4 bn Diamonds: $2.6 bn Electric machinery: $1.4 bn Aircraft, spacecrafts parts: $1.3 bn

Tariffs US places 

Dairy: 188% Fruits & vegetables: 132% Cereals and food preparations: 193% Oilseeds, fats, oils: 164% Beverages, and  tobacco: 150% Fish products: 35% Chemicals: 56%