The Commerce Ministry is analyzing the impact of the 26 percent reciprocal tariff or import duty imposed by the US on India, a senior government official said.
According to the official, the universal 10 per cent tariff will be applicable on all imports into the US from April 5 and the remaining 16 per cent will be applicable from April 10. "The ministry is analyzing the impact of the announced tariff," the official said.
He said there is a provision that if a country addresses the concerns of the US, the Trump administration may consider reducing the duty against that country.
India-US deal
India is already negotiating a bilateral trade deal with the US. The two countries are aiming to finalize the first phase of the deal by September-October this year. "The tariff is not a shock to India," the official said.
US President Donald Trump focused on the high duties imposed by India on US products and announced reciprocal tariffs on all countries. A 26 percent discounted reciprocal duty has been imposed on India.
Trump calls April 2 'Liberation Day'
Trump called April 2 "Liberation Day" and claimed that it is the day that will re-birth America's industry. Trump said, "This day will always be remembered, April 2, 2025, when America's destiny will be decided again and we will make America prosperous."
He showed a chart, which showed what kind of reciprocal tariffs these countries will now face compared to the tariffs imposed by countries like India, China, Britain, and the European Union. The chart also showed that India imposes a 52 percent duty, which includes currency operations and trade barriers, and now the US will charge India a "discounted" reciprocal tariff of 26 percent.
Trump's comment towards India
Trump said about India, "India is very tough. Prime Minister Narendra Modi has just left and he is a good friend of mine, but I told him that you are our friend, you are not handling us properly. They charge 52 percent duty."
On Monday, the Supreme Court once again reprimanded Madhya Pradesh government minister Vijay Shah
A new government has been formed in Bihar. Nitish Kumar and his cabinet colleagues took the oath
Music composer Palash Muchhal is currently in the news for his personal life. He was supposed to
It has been 11 days since the release of the Malayalam film 'Lokah Chapter 1' today on the second
Air pollution in Delhi has once again reached dangerous levels. According to this morning's repor
Durgapur: 'Mamata Banerjee should stop justifying rape', BJP strongly attacks TMC over Durgapur case
The Durgapur gang rape case has raised political heat in West Bengal, and the Mamata Banerjee gov
Everything is not going well in the Congress party. This was indicated on Wednesday when Congress
Ashnoor Kaur, a former contestant of 'Bigg Boss 19', made many friends during her time on the sho
The 71st National Film Awards were held in the capital, Delhi, on Tuesday. Bollywood superstar Sh
Rahul Gandhi is once again on a foreign tour. Congress on Tuesday clarified that Rahul has gone t
