Trump Tariff: Trump tariff will affect phone exports, India may suffer huge losses!
Donald Trump Reciprocal Tariff: Donald Trump has played his cards by imposing tariffs but India is likely to suffer huge losses due to this. India will have to negotiate with the US to find a solution to the tariffs. If things do not work out, then India will have to focus on reducing its dependence on the US and increasing business with other Asian countries.
US President Donald Trump has implemented Reciprocal Tariff. After implementing the reciprocal tariff, Trump is now preparing to levy a 26 percent tariff on goods coming from India.
While India has suffered a major blow due to this decision of Donald Trump, on the other hand Apple has also been 'deeply hurt' due to the tariff. In fact, Apple has the largest share in the phones exported from India to America. According to reports, Apple's share in export revenue is about 70 percent.
India imposes this much tariff
According to media reports, India imposes 15 percent basic custom duty and 1.5 percent surcharge on smartphones and electronics coming from America.
Reciprocal means that Donald Trump will impose the same tariff as India does. But this is not the case, Trump has made it clear that he is preparing to levy a tariff of 26 percent on things coming from India.
India may suffer losses like this
Donald Trump's tariff is going to have a profound impact on the sale of mobile phones exported from India. According to media reports, a total of $11.1 billion worth of electronics goods were exported from India in the financial year 2024.
Till now, there was zero tax on goods exported from India to America, but now after the increase in tariff, it will cost more for Indian companies to export goods to America, which may reduce the demand, if this happens then Indian companies are likely to suffer huge losses.
Apple exports the most
At present, Apple is the largest company exporting electronic goods from India. After manufacturing in India, the company exports its iPhones to the global market and countries like America.
If India has to overcome this crisis, some strategies will have to be prepared, such as companies will need to focus on other export markets and also talk to America to find a way out of the tariff.