US President Donald Trump has imposed reciprocal tariffs on multiple countries, with India facing a 27% import duty. Announcing April 2 as 'Liberation Day', Trump claimed these tariffs will protect American industries from unfair trade practices. The White House chart displayed during the announcement indicated India charges a 52% tariff, justifying the US' decision for a "discounted" 27% tariff.
The move has sparked concerns in India, as the Commerce Ministry issued a statement saying it is carefully examining the implications. It assured that engagements with stakeholders are ongoing, and India is also exploring new trade opportunities amid the evolving US trade policy. Meanwhile, discussions between Indian and US trade teams continue to finalize a multi-sectoral Bilateral Trade Agreement, focusing on supply chain integration and other mutual interests.
Join Siddharth Zarabi, Editor, Business Today, in a discussion with top experts:
Rajani Sinha, Chief Economist, Care Ratings
Dhiraj Nayyar, Chief Economist, Vedanta
Dr. Jayant Dasgupta, Former Ambassador to WTO
How will these tariffs impact Indian industries, exporters, and trade relations? Can India negotiate a better deal? Watch now as we decode the impact on India!
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