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."
Everyone is overjoyed with India's victory in the Women's ODI World Cup. Deepti received her prim
The Supreme Court resumed hearing the stray dog issue on Thursday. The Supreme Court focuse
Paresh Rawal will no longer be Babu Bhaiya of Hera Pheri world, this one news itself brought disa
Under the captaincy of Shubman Gill, the Indian cricket team ended the 58-year drought at Edgbast
India has given a befitting reply to Bangladesh for commenting on the violence in West Bengal. Th
Prime Minister Narendra Modi spoke over the phone on Thursday with leaders from Qatar, France, Jo
A new revelation has been made in the case of the murder of a level female tennis player, Radhika
Punjabi superstar and singer Diljit Dosanjh is once again in the headlines, although now he is su
Support for the Waqf Amendment Act proved costly, mob set BJP leader Askar Ali's house on fire.
In Manipur, BJP leaders had to pay a heavy price for supporting the Waqf Amendment Act. The mob s
For some time now, actress Elli Avram's name is being linked with famous YouTuber and actor Ashis
