12.5% to 10%: Why Trump admin imposed reduced tariff rate on India & what it means
The Donald Trump administration reduced the tariff rate on India from 12.5% to 10% under the Section 301 probe, effective immediately. This change affects India and 16 other economies, including Bangladesh, Pakistan, Canada, and the United Kingdom. The adjustment comes as the previous Section 122 duties expire, reflecting ongoing trade negotiations and scrutiny of forced labor practices.