India, US working to conclude trade agreement early: Govt

India and the US are seeking an early conclusion of a planned bilateral trade agreement.

The US Trade Representative (USTR) imposed a 10% additional tariff on Indian goods under Section 301 of the US Trade Act, 1974, reduced from an initially proposed 12.5%.

India's sustained engagement with the USTR, including written submissions and in-person consultations, led to a lower tariff for Indian exports.

Key Indian exports such as generic pharmaceuticals, smartphones, steel, aluminium, and auto parts are exempt from the additional 10% duty.

About 45% of India's exports to the US are outside the scope of the additional tariff, with the remaining 55% facing a comparatively lower tariff incidence.