US-based customers are asking Indian manufacturers to bear at least one-third to half the cost of the baseline tariff imposed on all the countries except China, a report said on April 15. This development comes after exporters reported resumption of trade for the existing orders, although the fate of new orders remain in doubt, according to the report.
US President Donald Trump, last week, had announced a 90-day break from tariffs for all the countries except on China, which will continue to have duty of 145 percent. However, all the countries will still have to face a baseline tariff of 10 percent apart from specific levies such as on steel and auto sector. Experts say most of the buyers in the US are seeking to split the tariff cost equally with the sellers.
