News Capsule: Relief likely for rice, spices, dry fruits, cotton and textile industries: US may cut tariffs
12-Nov-2025 10:10 AM
News Capsule: Relief likely for rice, spices, dry fruits, cotton and textile industries: US may cut tariffs
★ Trump had announced a 25% reciprocal tariff on India on August 7, along with varying levels of additional levies on most other countries. Later, on August 27, the US imposed another 25% tariff on India as a punitive measure for buying oil from Russia.
★ These tariffs affected nearly 60% of India’s exports to the US, severely impacting sectors such as textiles, rice, spices, and dry fruits.
If the proposed tariff reduction happens, it could bring significant relief to these sectors.