Donald Trump tariffs marginally favourable for Indian smartphone exports: Crisil

Going forward, there could be adverse effects, though. As tariffs push up inflation in the US, consumer spending on smartphone purchases could fall. As per data from the US International Trade Commission, the US imported the most number of smartphones from China, slightly north of 81% by value in 2024, while India and Vietnam were a very distant second and third at 13.7% and 4.2%, respectively.