Commerce Ministry reacted to America’s 26% tariff

New Delhi New Delhi: The Indian government has reacted to the US decision to impose a 26% duty on products imported from India. According to the Commerce Ministry, this is not a major setback, but it will definitely impact Indian exports. The ministry is assessing the impact of this new tariff and is considering taking necessary steps.

This tariff will be implemented in two phases. In the first phase, a 10% duty will be imposed from April 5, while the remaining 16% duty will be effective from April 10. The decision is likely to impact the jewellery industry the most, as the US is one of the largest importers in this sector.