https://www.taxtmi.com/news?id=71184 The US proclamation replaces varied reciprocal tariffs with a uniform temporary import surcharge of 10 per cent ad valorem applied in addition to MFN duties on goods previously covered under reciprocal tariffs. Indian exports will therefore bear MFN duties plus the temporary surcharge rather than the earlier country specific reciprocal or punitive levies; certain sectoral tariffs remain in force and specified categories of goods are exempted from the temporary surcharge. The change is contemporaneous with negotiations on an initial bilateral trade agreement, prompting a reevaluation of tariff concessions. en-us Sat, 21 Feb 2026 13:01:09 +0530 Sat, 21 Feb 2026 13:01:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=71184 The US proclamation replaces varied reciprocal tariffs with a uniform temporary import surcharge of 10 per cent ad valorem applied in addition to MFN duties on goods previously covered under reciprocal tariffs. Indian exports will therefore bear MFN duties plus the temporary surcharge rather than the earlier country specific reciprocal or punitive levies; certain sectoral tariffs remain in force and specified categories of goods are exempted from the temporary surcharge. The change is contemporaneous with negotiations on an initial bilateral trade agreement, prompting a reevaluation of tariff concessions. News - Sat, 21 Feb 2026 13:01:09 +0530 https://www.taxtmi.com/news?id=71184