“Blended Bag, Not Setback”: Centre Analysing Impression Of Trump Tariffs
New Delhi:
The commerce ministry is analysing the impression of 26 per cent reciprocal tariffs or import duties imposed by the US on India, a senior authorities official stated on Thursday.
In response to the official, the common 10 per cent tariffs will come into impact on all imports into the US from April 5 and the remaining 16 per cent from April 10.
“The ministry is analysing the impression of the introduced tariffs,” the official stated, including there’s a provision that if a rustic would tackle the issues of the US, the Trump administration can take into account lowering the duties towards that nation.
India is already negotiating a bilateral commerce settlement with the US. The 2 international locations are aiming to finalise the primary part of the pact by fall (September-October) of this yr.
“It’s a blended bag and never a setback for India,” the official stated.
The US President listed the excessive tariffs charged by India on American merchandise as he introduced reciprocal tariffs on international locations throughout the board, declaring a 26 per cent “discounted” reciprocal tariff on India.
“That is Liberation Day, a long-awaited second. 2nd April 2025 will perpetually be remembered because the day American trade was reborn, the day America’s future was reclaimed, and the day that we started to make America rich once more. We’re going to make it rich, good, and rich,” Trump stated on Wednesday in remarks from the Rose Backyard on the White Home as he introduced the intently watched reciprocal tariffs on international locations that impose levies on American items.
As he introduced the tariffs, he held up a chart that confirmed the tariffs that international locations comparable to India, China, the UK, and the European Union cost, together with the reciprocal tariffs that these international locations will now need to pay.
The chart indicated that India charged 52 per cent tariffs, together with foreign money manipulation and commerce boundaries, and America would now cost India a reduced reciprocal tariff of 26 per cent.
“India, very, very powerful. Very, very powerful. The prime minister simply left. He is an incredible pal of mine, however I stated, you are a pal of mine, however you are not treating us proper. They cost us 52 per cent…,” he stated.
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