'Not A Setback': India's First Reaction On Trump's 26% Reciprocal Tariffs
India is already negotiating a bilateral trade agreement with the US. The two countries are aiming to finalise the first phase of the pact by fall (September-October) of this year.
India on Thursday described the 26 per cent reciprocal tariffs announced by the United States on the nation as a "mixed bag". A Commerce Ministry official hinted that President Donald Trump might consider reducing the duties against India after talks between the countries.
"It is a mixed bag and not a setback for India," the official was quoted as saying by news agency PTI.
The commerce ministry is analysing the impact of the tariffs or import duties imposed by the US on India. The universal 10 per cent tariffs will come into effect on all imports into the US from April 5 and the remaining 16 per cent from April 10.
"The ministry is analysing the impact of the announced tariffs," the official said. He added that there is a provision that if a country addresses the concerns of the US, the Trump administration can consider reducing the duties against that nation.
India is already negotiating a bilateral trade agreement with the US. The two countries are aiming to finalise the first phase of the pact by fall (September-October) of this year.
Trump announced reciprocal tariffs on countries across the board, declaring a 26 per cent "discounted" reciprocal tariff on India. He listed the high tariffs charged by India on American products.
Trump Calls Imposing Tariffs On India 'Very, Very Tough'
President Donald Trump while imposing "discounted" reciprocal tariffs on countries that charge the United States recalled his recent meeting with Prime Minister Narendra Modi in Washington in February. He called imposing tariffs on India "very, very tough".
"India, very, very tough. Very, very tough. The Prime Minister (Narendra Modi) just left. He's a great friend of mine, but I said, 'You're a friend of mine, but you’re not treating us right. They charge us 52%. You have to understand, we charge them almost nothing for years and years and decades, and it was only seven years ago, when I came in, that we started with China," Trump said at the White House.
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