<h1>25% US tariff on goods tied to Iran hits Indian tea and basmati rice exports, amid stalled US-India talks</h1> A new 25% tariff imposed by the US on goods from countries trading with Iran is identified as a legal trade measure that will exert downward pressure on specific Indian merchandise exports, notably tea and basmati rice. Continued impasse in negotiations on a bilateral US-India trade agreement constitutes a regulatory and market-access constraint, reducing export momentum to the US and contributing to a deceleration of exports to that market (1.8% year-on-year in December). Threatened additional US levies linked to purchases of Russian crude oil represent potential further trade restrictions that would worsen overall merchandise export headwinds.