As of 2022, alcoholic beverages imported from the United States had the highest tariffs among Indian imports. Tariffs on vehicles followed closely, reaching 125 percent during the same period. However, import tariffs were recently increased on commodities like vegetable oils, automobiles, and alcoholic beverages.

The US is pressing India to remove high car import tariffs in upcoming trade agreements, a critical issue for automotive markets and US companies like Tesla.

Explore how U.S. coal exports to India rise as China imposes tariffs, reshaping global energy trade dynamics.

India Imports from United States was US$38.99 Billion during 2024, according to the United Nations COMTRADE database on international trade. India Imports from United States - data, historical chart and statistics - was last updated on May of 2025.

As of 2022, dairy products faced the highest tariffs imposed by the United States among Indian exports. Footwear followed closely, with tariffs reaching nearly 30 percent during the same period. However, the recent rise in tariffs put Indian exporters at a disadvantage, especially for commodities like seafood, dairy, diamonds, and electronics.

India's reduction of tariffs on bourbon whisky imports from 150% to 100% is anticipated to boost U.S. brands like Jim Beam and enhance trade relations.

India aims to adjust import tariffs on over 30 items, including luxury vehicles and solar cells, to bolster US trade relations ahead of Modi's US visit.

India proposes tariff cuts on U.S. farm products like almonds and cranberries to prevent reciprocal tariffs, aiming for a trade deal conclusion by late Friday.

Key Provisions of the India–UK FTA

• Tariff Reductions: India will eliminate tariffs on 99% of British goods, including whisky, automobiles, and medical devices. Conversely, the UK will reduce tariffs on Indian exports such as textiles, leather, and engineering goods. Notably, whisky tariffs in India will decrease from 150% to 75%, with a further reduction to 40% over the next decade.
• Trade Volume Increase: The FTA is expected to boost bilateral trade by £25.5 billion annually by 2040, contributing an additional £4.8 billion to the UK's GDP each year.
• Labor Mobility: The agreement includes a "Double Contribution Convention," exempting Indian professionals temporarily posted to the UK from paying national insurance contributions for up to three years. This provision aims to facilitate the movement of skilled labor between the two countries.
• Investment Protections: An investment treaty accompanying the FTA will allow companies to sue either government if they believe policy changes unfairly harm their investment or profits. This mechanism is designed to protect investors against potential unfair treatment under local laws.

China plans to boost imports from India to address trade imbalance, as bilateral trade reaches $101.7 billion. This initiative coincides with US tariff announcements and aims to strengthen Sino-Indian relations.

How Tariffs are Impacting the Economy

Tariffs have a profound impact on the economy by increasing the cost of imports and reducing the affordability of goods and services. As tariffs raise the price of foreign products, businesses face higher costs for materials and components, leading to increased production expenses. This increase in costs is typically passed down to consumers, causing inflationary pressures.

Businesses are also forced to adapt to changes in trade patterns, often seeking alternative suppliers or shifting production to countries with more favorable tariff rates. The result is often disruption in supply chains, with longer lead times and less predictable costs.

Additionally, tariffs can lead to a reduction in consumer demand as higher prices discourage spending. On a broader scale, the implementation of tariffs can slow economic growth by reducing international trade and investment flows, diminishing the efficiency of global markets, and creating a more fragmented trade environment.

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Freight Forwarding Market Size 2024-2028

The freight forwarding market size is forecast to increase by USD 47.04 billion at a CAGR of 3.8% between 2023 and 2028. The market is experiencing significant growth due to the wave in international trade and the increasing adoption of advanced technologies such as Information Technology and AI to streamline operations. Freight forwarders serve as intermediaries between shippers and logistics companies, managing the transportation of goods from their origin to the final destination. With the growing complexity of shipping schedules and documentation requirements, the role of freight forwarders has become increasingly important. However, the industry faces challenges such as high fuel and transportation costs, which can impact profitability. To remain competitive, freight forwarders must continually invest in technology and knowledge to improve efficiency and reduce costs.

What will the size of the market be during the forecast period?

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The freight forwarding market plays a vital role in facilitating successful trade by acting as an intermediary between shippers and transportation providers. Freight forwarders manage the entire transportation plan, handling both import and export processes, ensuring customs clearance, and consolidating freight for cost-friendly shipping. They also work closely with customs brokers to navigate complex regulations and ensure compliance with local and international rules. Export haulage and shipment transits are optimized through efficient coordination, reducing the risk of issues such as stolen goods or delays. A well-executed freight forwarding operation helps shippers streamline their logistics, lowering costs and improving delivery timelines. As global trade expands, the demand for reliable freight forwarding services and its local affiliate network continues to grow, driving innovations and market expansion. Best practices in freight forwarding include effective communication and coordination between all parties involved in the supply chain. This includes negotiating tariffs, understanding customs regulations, and adhering to shipping requirements. The use of information technology can significantly enhance the efficiency and accuracy of these processes.

Further, regulations play a significant role in the market. Carriers and logistics providers must adhere to various rules and guidelines to ensure the safe and secure transfer of goods. Providing clear and concise information to all parties involved in the supply chain can help prevent delays and reduce the risk of damage or loss. This includes providing accurate documentation, such as bills of lading and commercial invoices, as well as keeping all parties informed of any changes to shipping schedules or requirements. Maintaining goods in good condition is another critical aspect of freight forwarding. Proper packaging and handling can help prevent damage during transportation, reducing the risk of claims and delays. It is essential to work with reputable carriers and logistics providers who have a proven track record of handling specific types of goods.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Mode Of Transportation

  Land freight
  Ocean freight
  Air freight


Application

  Industrial and manufacturing
  Retail and E-commerce
  Food and beverages
  Healthcare
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  Middle East and Africa



  South America

    Brazil

By Mode Of Transportation Insights

The land freight segment is estimated to witness significant growth during the forecast period. The land freight segment, which includes road and rail transportation, is a significant part of the freight forwarding market. This segment plays a vital role in enabling the transportation of goods to their final destination, both domestically and internationally. The road freight segment, specifically, is a dynamic and essential component, with goods being transported via trucks, trailers, and other road vehicles. Its flexibility and last-mile connectivity make it a primary choice for transporting a wide range of commodities, such as manufactured goods, consumer products, and raw materials.

Further, the ability of road freight forwarding to reach remote locations and access points unreachable by other modes of transport ensures timely and efficient deliveries, providing a competitive edge in the freight forwarding industry. Information technology plays a crucial role in streamlining logistics processes, including shipping schedules and documentation, for b

I derive a novel solution for the general equilibrium effects of tariffs that is robust to heterogeneity across industries and countries, and is a function of only aggregate trade data and country-by-industry Pareto shape parameters. Using the model to evaluate tariff shocks, I show that while most countries lose by removing observed tariffs unilaterally, India, Japan, Korea, and the United States gain by doing so, which suggests inefficient tariff discrimination. In evaluating multilateral shocks, observed tariff cuts over 1994–2000 benefit 69 percent of countries, with these benefits skewed toward developing nations. In contrast, removing all post-2000 tariffs benefit the developed. (JEL F12, F13, F14)

Apple shifts U.S.-bound iPhone production to India due to U.S.-China tariffs, aiming to double manufacturing capacity by 2026.

The United States' total Imports in 2024 were valued at US$3.36 Trillion, according to the United Nations COMTRADE database on international trade. The United States' main import partners were: Mexico, China and Canada. The top three import commodities were: Machinery, nuclear reactors, boilers; Electrical, electronic equipment and Vehicles other than railway, tramway. Total Exports were valued at US$2.06 Trillion. In 2024, The United States had a trade deficit of US$1.29 Trillion.

The Chinese steel industry faces mounting challenges as new tariffs and trade tensions, enforced by global markets including the U.S., Vietnam, and South Korea, alter the landscape of international steel exports.

This statistic shows the United States goods trade deficit with China from 2014 to 2024. In 2024, the value of U.S. imports from China exceeded the exports to China by around 295.4 billion U.S. dollars.

The Trump administration plans to impose tariffs on pharmaceutical imports to reduce dependence on foreign drugs, aiming to enhance national security and secure the U.S. drug supply chain.

Apple's strategic airlift of iPhones from India to the U.S. in March resulted in a record $2 billion shipment, aimed at avoiding tariffs.

Cold rolled coil prices are rising globally due to supply constraints and import tariffs, despite a downturn in the American auto industry. Future demand is expected to grow.