Trump Tariff Impact: 26% of Trump’s recipe rocked the Government of India, what will be relief?
New Delhi:
The Ministry of Commerce is assessing the impact of 26 percent recipes on India on imports from India. A senior government official gave this information on Thursday. The government hopes that if India is able to solve American concerns, the tariff can get relief.
“It’s not a shock to India”
He said that there is a provision that if a country resolves the concerns of America, the Donald Trump administration can consider reducing the fee against that country. The official said, “This is not a shock for India, but a mixed result.”
Tariffs will be applicable in two phases in America
All imports in the US will be implemented from April 5 and the remaining 16% tariff from April 10. The government is making its strategy on this and emphasis is being laid on completing the trade agreement with the US soon. India is already negotiating bilateral trade agreement with the US. The two countries are aiming to finalize the first phase of the agreement by September-October this year.
US President Donald Trump has also mentioned the high duty levied by India, announcing a duty on imports from various countries.
Indo-US business relationship strong
America is the largest trading partner in India and in 2023-24 India was a $ 35.32 billion trade surplus with the US. The government believes that this decision will definitely bring a challenge, but India’s situation will remain strong.
Trump on Wednesday announced how much different countries impose on America products through a list, announcing the fee in the Rose Garden of the White House. It mentioned the fees levied by countries like India, China, Britain and European Union (EU) as well as the counter-duty levied on them.