Stocks● Neutral
US Cuts Tariffs on Indian Exports to 10% After Forced-Labor Curbs
The US cut tariffs on most Indian exports to 10% from 12.5% after India banned forced-labor imports. Steel and aluminum still face higher rates. The reprieve may be temporary.
Continue with
The United States slashed tariffs on most Indian exports to 10%, down from 12.5%, after New Delhi tightened rules against forced-labor imports. The move gives Indian exporters a pricing edge over rival countries that still face the higher rate, though several sectors will remain subject to separate, steeper duties.
India earlier this year banned imports of goods made with forced labor, aligning with a key US trade demand. Washington responded by lowering the general tariff rate on Indian goods, effective immediately. The change covers the bulk of India's $80 billion annual export basket to the US, including machinery, chemicals, and textiles.