Not even 0.3 percent of US imports to India and China faced over 50 percent duties: MC Analysis

Fewer than 50 goods from the US faced high tariffs from India

Not even 0.3 percent of US products entering Indian and Chinese territory in 2023 faced over 50 percent tariffs, according to a Moneycontrol analysis of UNCTAD’s trade data.

In the case of India, just 43 of the 3,724 categories imported from the US in 2023 were subject to tariffs of over 50 percent, amounting to just $114 million of $40 billion worth of imports from Washington.

On the other hand, just 2 of the over 4,000 products entering China from the US faced 67 percent duty. The total value of high tariff trade was just $298 million or 0.2 percent.

European Union also imposed high duties of over 39 percent on just 0.1 percent of US imports.

Japan, on the other hand, imposed 46 percent or more tariff on just 1.7 percent of US exports entering its territory.

US President Donald Trump on Wednesday imposed 10 percent baseline tariffs on all goods entering the US territory and unveiled differential tariff rates for countries.

India, which Trump called out with respect to automobile duties--motorcycles and cars--is expected to face 26 percent tariffs from the US, as President Donald Trump highlighted his discounted reciprocal tariff plan.

"The United States imposes a 2.5 percent tariff on passenger vehicle imports (with internal combustion engines), while the European Union (10 percent), India (70 percent), and China (15 percent) impose much higher duties on the same product," the US President noted.

The US will charge half of what it believes the country levies on the US products, including trade distorting measures like non-tariff barriers and currency manipulation, the President noted as he unveiled his reciprocal tariff plan.

“For years, hardworking American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense,” the US president noted.

The plan is expected to put more of global trade in jeopardy, as countries are likely to retaliate to US’ tariff plan, which levies a cost even on those nations that run a deficit with the United States.

An earlier analysis by Moneycontrol had found that half as many nations run a deficit with the US as those that run a surplus.
The US president also unveiled 25 percent tariffs on foreign made automobiles.