18 hours ago
Last Updated:April 04, 2025, 03:17 IST
Discussions are ongoing between Indian and US trade teams for the expeditious conclusion of a mutually beneficial, multi-sectoral bilateral trade agreement. These cover a wide range of issues of mutual interest, including deepening supply chain integration
Donald Trump imposes reciprocal tariffs. (Representational image/Reuters)
The Department of Commerce, Government of India, is carefully examining the implications of the various measures and announcements made by the President of the United States, Donald Trump, CNN-News18 has learnt. The US President issued an executive order on reciprocal tariffs, imposing additional ad valorem duties ranging from 10% to 50% on imports from all trading partners. The baseline duty of 10% will be effective from April 5, 2025, and the remaining country-specific additional ad valorem duty will be effective from April 9. The additional duty on India as per Annex I of the Executive Order is 27%.
Keeping in view the vision of Viksit Bharat, the Department of Commerce is engaged with all stakeholders, including the Indian industry and exporters, taking feedback on their assessment of the tariffs and assessing the situation. The department is also studying the opportunities that may arise due to this new development in US trade policy. Prime Minister Narendra Modi and President Trump announced Mission 500 on February 13, aiming to more than double bilateral trade to $500 billion by 2030.
Accordingly, discussions are ongoing between Indian and US trade teams for the expeditious conclusion of a mutually beneficial, multi-sectoral bilateral trade agreement. These cover a wide range of issues of mutual interest, including deepening supply chain integration.
The ongoing talks are focused on enabling both nations to grow trade, investments, and technology transfers. The Indian government remains in touch with the Trump administration on these issues and expects to take them forward in the coming days. India values its Comprehensive Global Strategic Partnership with the United States and is committed to working closely with the US to implement the India-US Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology (COMPACT) for the 21st century to ensure that our trade ties remain a pillar of mutual prosperity and drive transformative change for the benefit of the people of India and the US.
Location : First Published:April 04, 2025, 03:17 IST
News india Trump Tariffs: India Carefully Examining Situation, Exploring Opportunities
