India says 45% of exports to US exempt from new 10% tariff; textile mechanism under discussion
India's commerce and industry ministry announced that 45% of its exports to the US will be exempt from a new 10% tariff, following the US Trade Representative's final decision on tariffs. The remaining 55% will incur the additional duty, although India's tariff incidence remains lower than that of many other economies. Ongoing discussions between India and the US aim to establish a textile-specific mechanism as part of broader trade negotiations.