‘No shock from tariffs, mixed effect’, government reviewing impact of 26% counter-duty
New Delhi| The Indian government is closely monitoring US President Donald Trump’s announcement of retaliatory tariffs and reviewing its impact. The Ministry of Commerce is analyzing the impact of the 26 per cent US reciprocal tariff or import duty imposed on India. The universal 10 percent tariff on all imports into the U.S. will apply from April 5 and the remaining 16 percent from April 10, a senior government official said. He believes that this is not a shock for us. Its effect is not going to be much. Only its mixed effect can be seen.
Mention of special provisions of American tariffs
“The ministry is analyzing the impact of the tariffs”, the official said He also said that there is a provision that if any country addresses or tries to address America’s concerns, the Trump administration may consider reducing tariffs against that country. India is already in bilateral talks with America. Negotiating a trade agreement. Both countries are trying to finalize the first phase of the agreement by autumn (September-October) this year. The official said, ‘This will bring mixed effects. Its one-sided result will not be seen. There is no shock for India
Which announcement of Trump caused stir?
Earlier, the US President listed the high duties imposed by India on American products. He announced reciprocal tariffs on all countries. Under this, it was announced to impose 26 percent reciprocal duty on India. Announcing retaliatory tariffs, Trump said that our country has been looted by other countries. American taxpayers have been duped for more than 50 years, but that will no longer work. Trump said, ‘India, very, very strict. Prime Minister Narendra Modi has just left. He is a very good friend of mine, but I said that you are my friend, but you are not treating us properly. They charge us 52 percent.’
