
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."
The Election Commission has released the 2002 voter list of 293 assembly constituencies of 24 dis
India's star weightlifter Mirabai Chanu once again brought glory to the country on the world stag
Pawan Singh, who made headlines for his easygoing demeanor in "Rise and Fall," has been in the ne
Bigg Boss 19 has entered its seventh week. A fierce battle is brewing between the contestants. Wh
Strict rules have been implemented in the national capital from Thursday (December 18) to control
After Operation Sindoor, tensions between India and Pakistan are at their peak. Countries around
Rain has caused havoc in the Northeast. People in many states have been badly affected by the rai
After defeating Pakistan in the final match of the Asia Cup on Sunday and winning the tournament,
Union Home Minister Amit Shah said that when the people of Bengal will oust Chief Minister Mamata
Every day, there is some ruckus in TV's popular reality show Bigg Boss 19. Now, a new promo of th