Earlier, in the absence of any clarity on the tariff structure, the European Union had stopped working towards ratifying its trade deal with the US. This points towards a possible rethink among countries over recent trade agreements struck with the Trump administration. Under the interim agreement, the US would impose a reciprocal tariff of 18 per cent on India’s exports. Trump has used Section 122 of the 1974 Trade Act to impose a uniform tariff rate of 10 per cent on goods imported in the US. Moreover, the 10 per cent tariff is for a 150-day period, which ends in July.

Source: Indian Express March 18, 2026 06:54 UTC