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."
When IPL 2025 was stopped, the Lucknow Super Giants team was relieved that they had all the playe
A situation of war had arisen between India and Pakistan in the past few days. Both countries wer
Bigg Boss 19: This TV actress got an invitation to Salman Khan's show, will she enter season 19?
Everyone is eagerly waiting for the controversial show Bigg Boss 19 on the small screen. Every da
After the Pahalgam attack, India took its revenge on Pakistan by running Operation Sindoor. After
On one hand, while the Indian senior men's cricket team is playing a five-match Test series again
Foreign Minister S Jaishankar has given a very clear answer to US President Donald Trump and some
On Tuesday, the final match of IPL was played between PBKS i.e. Punjab Kings and RCB i.e. Royal C
In Alwar, Rajasthan, another case similar to Raja Raghuvanshi and Sonam has come to light. But in
Mumbai Indians defeated Gujarat Titans by 20 runs in the eliminator match of IPL 2025. With this
The new variant of Corona (Covid-19 Update) has engulfed many people across the country and four
