US President Donald Trump has created a stir all over the world by starting a tariff war. He had also announced to impose 27 percent tariff on India but within 24 hours he also reduced it. According to the document released by the White House, the Trump administration has reduced the tariff imposed on India. The documents show that only India has been given this relief from the tariff imposed by the US on 60 countries of the world.

According to White House documents, the US has reduced the 27 percent tariff imposed on India to 26 percent. This tariff will come into effect from April 9 and will be imposed on all goods exported from India to the US. Earlier, while announcing the retaliatory duty, Donald Trump showed a chart showing that now India, China, UK and the European Union will have to pay duty on all their exports. The tariff on India has been reduced by 1 percent because the US has imposed only 50 percent of the tariff imposed by it on each country. If India collects 52 percent, it should have been imposed at the rate of 26 percent but it was imposed at 27 percent by mistake.

Tariff reform or relaxation

The chart released by the US shows that India collects 52 percent duty, which includes currency manipulation and trade barriers, and now the US will collect a concessional retaliatory duty of 26 percent from India. Earlier, the White House documents showed a 27 percent duty on India. It has been updated and reduced to 26 percent. However, looking at the documents, it seems that the US has not given this relaxation in the tariff, but has improved it. Anyway, industry experts say that a reduction of one percent will not have much impact.

US is the largest trading partner

The US was India’s largest trading partner from 2021-22 to 2023-24. The US accounts for about 18 per cent of India’s total textile exports, 6.22 per cent of imports and 10.73 per cent of bilateral trade. With the US, India’s trade surplus (difference between imports and exports) in textiles in 2023-24 was $35.32 billion. It was $27.7 billion in 2022-23, $32.85 billion in 2021-22, $22.73 billion in 2020-21 and $17.26 billion in 2019-20.

What makes the most exports

India’s major exports to the US in 2024 included pharmaceutical manufacturing and biological products ($8.1 billion), telecommunications equipment ($6.5 billion), precious and semi-precious stones ($5.3 billion), petroleum products ($4.1 billion), gold and others included precious metal jewelry ($3.2 billion), cotton ready-made garments including accessories ($2.8 billion) and iron and steel products ($2.7 billion). Similarly, imports included crude oil ($4.5 billion), petroleum products ($3.6 billion), coal, coke ($3.4 billion), cut and polished diamonds ($2.6 billion), electrical machinery ($1.4 billion), aircraft, spacecraft and their parts ($1.3 billion) and gold ($1.3 billion).

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At the same time, the effect of this announcement has been seen in some big companies of the auto sector. Let’s know about it in detail.

US President Donald Trump has announced tariffs in the auto sector. This 25 percent tariff will be implemented from April 2. Trump announced during a program in the Oval Office that a 25 percent tariff will be imposed on foreign cars imported or exported to the US.

Along with this, Donald Trump has also said that his decision is permanent and it will not be changed now. The effect of this decision of Donald Trump has been seen on the big companies of the auto sector. At the same time, the shares of many big auto companies have fallen.

Heavy selling in auto sector

The stock market started on a red mark today. But gradually the stock market started recovering. Right now the main stock market indexes BSE Sensex and NSE Nifty are trading on the green mark. At the time of writing, the auto sector shares in NSE Nifty have fallen by 0.70 percent.

Along with this, there is heavy selling in the pharma sector also.

These companies of the auto sector were affected

The impact of US President Donald Trump’s tariff has been seen on the big companies of the auto sector. These affected companies include Tata Motors, Mahindra and Eicher Motors.

Tata Motors – After Trump’s tariff announcement, Tata Motors’ shares have seen a sell-off of about 4 percent. The price of one share of Tata Motors in the BSE Sensex is Rs 673.50. On the other hand, the shares of Tata Motors have fallen by 4.92 percent in the NSE Nifty. Currently, the price of one share of Tata Motors in the NSE Nifty is Rs 673.40.

Mahindra- The impact of the tariff announcement has been seen on Mahindra company as well. Mahindra shares have fallen by 0.44 percent in the BSE Sensex. At present, the price of one share is Rs 2732.90. Along with this, Mahindra shares have fallen by 0.39 percent in the NSE Nifty. The price of one share is currently Rs 2731.

Eicher Motors – There has been a huge sell-off in the shares of Eicher Motors. Shares of Eicher Motors have seen a 0.55% sell-off in the BSE Sensex. Currently, the price of one share of Eicher Motors is Rs 5370. Along with this, its shares have fallen by 0.49% in the NSE Nifty. The price of one share is Rs 5376.

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