Gems, gadgets and groceries: Which goods will get costlier after Trump's tariff move?

NEW DELHI: US President Donald Trump has rolled out a sweeping tariff regime that imposes a minimum 10 per cent duty on nearly all goods entering the United States, affecting trade with 180 countries. The move marks one of the most aggressive shifts in American trade policy in recent history.

India, one of the countries directly in the crosshairs, now faces a 26 per cent duty on all exports to the US. Citing a $46 billion trade deficit with New Delhi, the Trump administration defended the tariffs as "reciprocal," highlighting what it sees as unfair barriers to American products entering India. Officials pointed to significant disparities: while Indian vehicles face only a 2.5 per cent tariff in the US, American cars entering India are taxed up to 70 per cent. Similarly, Indian rice and apples enjoy minimal tariffs in the US compared to the steep duties imposed by India on their American counterparts.

The tariff move is already sending shockwaves through multiple industries. Indian exports of gems and jewellery—which make up nearly 13 per cent of the country's outbound trade to the US—are expected to take the hardest hit. Rising gold prices could compound the pressure on this sector, according to trade analysts.

What's likely to get more expensive

• Other Indian exports like textiles, engineering goods, electronics, and seafood are also under strain. Ajay Bagga, a veteran market analyst, noted that exporters in these sectors are likely to feel the immediate financial impact of the tariff hike.
• Global brands are also caught in the fallout. With Trump slapping a 46 per cent duty on goods from Vietnam, the cost of manufacturing sneakers for brands like Nike and Adidas—both of which heavily rely on Vietnamese production lines—is expected to rise sharply. Nearly half of Nike's shoes and over a quarter of Adidas products are made in Vietnam, according to a report from Bloomberg.
• Tech giant Apple is facing tariff-related pressure, too. The company's major product lines—including iPhones, AirPods, iPads, and MacBooks—are manufactured in countries now facing new US tariffs . This includes Vietnam, Malaysia, Thailand, and Ireland, meaning Apple may have to raise prices globally, including in India, to offset the added costs.
• In the auto sector, the new tariffs on imported vehicles, parts, steel, and aluminium are expected to make cars, heavy machinery, and appliances more expensive for US consumers.
• Meanwhile, Indian exports of basmati rice, shrimp, and buffalo meat—worth billions—are now facing uncertain futures as buyers in the US weigh the implications of the new costs.

While the White House insists the measures are aimed at restoring fairness in global trade, industry leaders and economists warn that the tariffs could trigger retaliatory actions from affected countries, strain supply chains, and push up prices for everyday goods.