U.S. Implements 10% Tariff on Indian Imports, Impacting Gold Prices
The United States has imposed a 10% tariff on goods imported from India, effective from July 24, 2026, under Section 301 of the Trade Act of 1974. This decision was made due to concerns over forced labor practices. The tariff, initially proposed at 12.5%, was reduced, providing some relief to Indian exporters. As a result, gold prices in India have dropped, with 10 grams of 24-carat gold decreasing by 824 rupees to 1,43,781 rupees. This tariff is part of a broader U.S. strategy to address labor issues in international supply chains.