New Delhi: Goods from sectors, including agriculture, precious stones, chemicals, pharma, medical devices, electricals, and machinery may get impacted if the US will go ahead with imposing reciprocal tariffs on Indian products, according to experts.

They said that these sectors could face additional customs duties from the Trump administration because of the high tariff differential or gap, which is the difference between the import duties imposed by the US and India on a product. At the broad sector level, the potential tariff gaps between India and the US vary across the sectors. The gap is 8.6 per cent for chemicals and pharmaceuticals; 5.6 per cent for plastics; 1.4 per cent for textiles and clothing; 13.3 per cent for diamonds, gold, and jewellery; 2.5 per cent for iron, steel, and base metals; 5.3 per cent for machinery and computers; 7.2 per cent for electronics; and 23.1 per cent for automobiles and auto components.

“The higher the tariff gap, the worse affected a sector could be,” an exporter said. US President Donald Trump has said that the tariff announcements, scheduled for early morning Wednesday (India time), will amount to a ‘Liberation Day’ for the US. According to an analysis of the think tank Global Trade Research Initiative (GTRI), the hardest-hit sector in agriculture would be fish, meat, and processed seafood, with $2.58 billion in exports in 2024, facing a 27.83 per cent tariff differential. Shrimp, a major export to America, will become significantly less competitive due to the imposition of the US tariffs.