US Imposes 15% Temporary Import Duty on India: What It Means for Trade Deal

• US announces a temporary 15% import surcharge on goods, replacing the previous 25% reciprocal framework.
• This new 15% base tariff will apply to Indian goods, potentially offering temporary relief from a proposed 18% duty.
• President Trump states the ongoing trade deal with India will not change, while India aims to finalize an interim agreement next month.
• Exemptions include critical minerals, energy products, certain agricultural goods, pharmaceuticals, and some electronics.
• Sectoral tariffs on steel, aluminum, copper (50%) and auto components (25%) remain in effect, alongside IP concerns.