New Delhi [India], 7 August : The Indian pharmaceutical sector has been "excluded" from the immediate US tariff imposition, as generic medicines are "important" for affordable healthcare in the United States, said Sudarshan Jain, Secretary General of the Indian Pharmaceutical Alliance, on Wednesday.
This comes after US President Donlad trump imposed an additional 25 per cent tariff on India over the continued purchase of Russian oil.
Jain, says, "The recent Executive Order by the US Administration excludes the pharmaceutical sector from immediate tariff imposition. The sector is being reviewed under the Section 232 investigation. Generic medicines are important for affordable healthcare in the US and typically operate on razor-thin margins. Ensuring their consistent availability is critical for patient care"
"India-US partnership is key to securing API supply chains and enhancing healthcare resilience," he noted.
On Wednesday, US President Donald Trump signed an Executive Order imposing an additional 25% tariff on imports from India, raising the total tariff on Indian goods to 50%.
According to the order issued by the White House, Trump cited matters of national security and foreign policy concerns, as well as other relevant trade laws, for the increase, claiming that India's imports of Russian oil, directly or indirectly, pose an "unusual and extraordinary threat" to the United States. After the order, the total tariff on Indian goods will be 50 per cent. While the initial duty comes into effect on August 7, the additional levy will come into effect after 21 days and will be imposed on all Indian goods imported into the US, except for goods already in transit or those meeting specific exemptions.
Following this announcement, the Ministry of External Affairs (MEA), in its response, termed the US's move as "unfair, unjustified and unreasonable", declaring that New Delhi will take "all actions necessary to protect its national interests."
In an official statement, the MEA said, "The United States has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India."
"It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest," the statement added."We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests," the MEA stressed.
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