India downplays Trump's 26% tariff, hopes for exemption 'not a setback'

India thinks that US President Donald Trump's charging 26 percent tariff on New Delhi "isn't a setback" and anticipates it will receive an exemption under Executive Order Clause 4, the senior officials at the commerce ministry have stated. The officials further informed that the country could face a 10 percent tariff and the rest of the world starting from April 5 and then an additional 16 percent starting April 10.

A "discounted reciprocal tariff"?

US President Donald Trump has directed a 26% tariff on Indian imports on grounds of "non-reciprocal trade arrangements" and national security.
India Seeks Exemption Under Clause 4. Top Indian officials are convinced that they can get an exemption under Section C of Clause 4 of Trump's executive order that permits lower tariffs in case trading partners rectify non-reciprocal trade arrangements.

Tariffs to hit some sectors, others to benefit

The Indian government has established a control room to deal with the tariff problem and is examining its effect on different industries. Trump's chart shows tariffs of 34% on Chinese imports, 20% on European Union imports, 24% on Japanese imports, and 32% on Taiwanese shipments.