Will mobiles become expensive or will the price decrease?
Former US President donald trump has recently implemented 'reciprocal tariff'. Under this new tariff, America will now charge up to 26% duty on goods imported from India. Now it is interesting to see how much impact Trump's decision will have on India. Especially in the field of mobile phone export, the effect of Trump's tariff can be seen. For information, let us tell you that this new tariff of trump will have more impact on companies like apple because these companies send phones to America in large quantities from India. According to reports, apple holds a share of about 70% in mobile exports from India.
Will india suffer losses?
With the increase in Trump's tariff, the cost of electronic goods sent from india to America will increase. Let us tell you that before this tariff, india did not pay any duty on these goods, but after this decision of trump, now india will have to pay a full 26 percent duty on whatever electronic goods india sends to America. However, now due to higher cost, there may be a decline in the demand for indian electronic goods, which may cause loss to indian companies. According to the report, in the financial year 2024, india exported electronic goods worth about $ 11.1 billion, in which mobile phones had the largest share.
How much duty does india levy?
It is not that only America is levying duty on indian goods. india also imposes duty on American goods. india currently levies about 15% basic custom duty and 1.5% surcharge on smartphones and electronic products coming from America. For information, let us tell you that reciprocal tariff means that the other country should also levy the same duty as one country imposes, but Trump's 26% tariff seems to violate this.
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