Centre says it is ‘carefully examining’ impact of US reciprocal tariffs on India
NEW DELHI, APR 3 : The Union government on Thursday said it is “carefully examining the implications” of the reciprocal tariffs announced by US President Donald Trump on Indian exports.
The Ministry of Commerce and Industry on Thursday said it is engaging with all stakeholders, including Indian industry and exporters, taking feedback of their assessment of the tariffs and assessing the situation.
“The Department is also studying the opportunities that may arise due to this new development in the US trade policy,” it said in a press release.
Trump on Wednesday issued an Executive Order on reciprocal tariffs imposing additional ad-valorem duties ranging from 10% to 50% on imports from all trading partners.
he baseline duty of 10% will be effective from April 5 and the remaining country specific additional ad-valorem duty will be effective from April 9. The additional duty on India is 27%. Certain sectors are exempted from these duties including pharma, semiconductors, and energy products.
President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington.
Trump’s tariffs: What they mean for India, China, and the new Asian supply chain
Referring to Prime Minister Narendra Modi and Trump’s February 13 announcement regarding ‘Mission 500’—which aims to more than double bilateral trade to $500 billion by 2030—the commerce ministry said Indian and US trade teams are in talks to expedite a mutually beneficial, multi-sectoral Bilateral Trade Agreement.
“These cover a wide range of issues of mutual interest including deepening supply chain integration. The ongoing talks are focused on enabling both nations to grow trade, investments and technology transfers. We remain in touch with the Trump Administration on these issues and expect to take them forward in the coming days,” it said.
The ministry further said that India values its Comprehensive Global Strategic Partnership with the United States and is committed to implement the India-US ‘Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology’ (COMPACT) for the 21st century to ensure that our trade ties remain a pillar of mutual prosperity and drive transformative change for the benefit of the people of India and the US.
-AFP
