As of May 2026 the United States imposes a 10% Section 122 global surcharge and a tariff on low-valued transactions on China along with a tariff on synthetic opium-related goods. Following the February 2026 interim trade agreement the US reduced tariffs on Indian imports from 25% to an 18% reciprocal tariff on select goods effective February 7 2026. This tariff reduction positions India more competitively against Asian rivals.

CURRENT STATE

US-China trade remains burdened by high tariffs including layered surcharges and product-specific duties maintaining a protectionist stance amid ongoing trade tensions. Meanwhile US-India trade relations improved significantly in early 2026 with the tariff cut from 25% to 18% on select Indian goods such as textiles machinery and organic chemicals following India's commitment to cease Russian oil imports. This tariff adjustment coincides with India’s export share in the US slipping to 2.7% by October 2025 but aims to reverse the decline by boosting competitiveness. The US also introduced a 10% global surcharge effective February 24 2026 impacting both countries but layered on top of existing tariffs for China.

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