Major blow to India as US imposes 100% tariff on pharmaceutical imports
Washington: In a significant escalation of trade pressures, the United States has announced a 100% tariff on pharmaceutical imports from India, a move likely to severely impact one of New Delhi’s most lucrative export sectors.
According to Kashmir Media Service, the new tariffs extend beyond pharmaceuticals. The US has also imposed a 50% tariff on kitchen cabinets and bathroom vanities, 30% on furniture, and 25% on heavy-duty trucks.
US President Donald Trump, announcing the decision on his social media platform Truth Social, said that the 100% tariff on pharmaceutical products will come into effect from October 1. However, he added that companies establishing pharmaceutical manufacturing plants within the US would be exempt from the new duties. “This decision is being made for several reasons, but above all, in the interest of national security,” Trump said.
The move poses a serious challenge for India, which is among the world’s largest pharmaceutical exporters. Over one-third of the medicines consumed in the US originate from India.
A report carried by India Today highlights that India exports approximately $10 billion worth of pharmaceutical products to the US annually. The new tariffs are expected to directly affect this trade volume and could lead to major disruptions in the Indian pharma industry.
It is worth mentioning that the US had already imposed a 50% tariff on various Indian goods, a policy that has strained bilateral trade and hampered Indian exports. The latest measures are expected to further deepen those economic pressures.
