India to face reciprocal tariffs on April 2: Donald Trump
This comes after commerce and industry ministry officials earlier this week stated that India plans to engage with stakeholders and resolve all outstanding issues with the US in the bilateral trade agreement (BTA) both countries aim to sign by the end of the year.
Dampening prospects of a concession, US President Donald Trump said Thursday India will face reciprocal tariffs on April 2, a move likely to hurt India’s exports of agricultural and pharmaceutical goods. These are among the products that have a high tariff differential with the US.
I have a very good relationship with India, but the only problem I have with India is that they are one of the highest tariffing nations in the world. I believe they are probably going to be lowering those tariffs substantially, but on April 2, we will be charging them the same tariffs they charge us,” Trump said in an interview with US-based Breitbart News.
This comes after commerce and industry ministry officials earlier this week stated that India plans to engage with stakeholders and resolve all outstanding issues with the US in the bilateral trade agreement (BTA) both countries aim to sign by the end of the year
Sectors such as steel and aluminum are already feeling the impact of the 25 per cent tariffs imposed by the US on these metals and industry representatives have said that exporters worth $5 billion are already facing the impact of the new tariffs. Moreover, the anti-dumping watchdog under the Commerce and Industry Ministry has proposed a 12 per cent duty on certain imported steel products that could drive up prices in the country.
Dampening prospects of a concession, US President Donald Trump said Thursday India will face reciprocal tariffs on April 2, a move likely to hurt India’s exports of agricultural and pharmaceutical goods. These are among the products that have a high tariff differential with the US.
I have a very good relationship with India, but the only problem I have with India is that they are one of the highest tariffing nations in the world. I believe they are probably going to be lowering those tariffs substantially, but on April 2, we will be charging them the same tariffs they charge us,” Trump said in an interview with US-based Breitbart News.
This comes after commerce and industry ministry officials earlier this week stated that India plans to engage with stakeholders and resolve all outstanding issues with the US in the bilateral trade agreement (BTA) both countries aim to sign by the end of the year
Sectors such as steel and aluminum are already feeling the impact of the 25 per cent tariffs imposed by the US on these metals and industry representatives have said that exporters worth $5 billion are already facing the impact of the new tariffs. Moreover, the anti-dumping watchdog under the Commerce and Industry Ministry has proposed a 12 per cent duty on certain imported steel products that could drive up prices in the country.
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