New 25% levy could weigh on manufacturing plans, including Apple's
IPhone models on display at the Apple store in Mumbai. Apple is among the companies considering an expansion of electronics manufacturing in India with a view to exporting goods to the U.S. © AP
BENGALURU -- The steep U.S. tariffs on India announced Wednesday could take some shine off the South Asian nation's appeal as an alternative to China for electronics manufacturing, with the move coming at a time when several companies, including Apple, are considering expansion in India.
U.S. President Donald Trump announced a 25% tariff on Indian imports, higher than the 15% levy on Japan and South Korea and the 20% tax on Vietnam. That was also just one percentage point lower than the initial "reciprocal" levy on Indian imports that Trump revealed on April 2, and represents a sharp jump from the 10% near-blanket rate that he subsequently switched to.
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