Gearing up for Trump tariffs, India weighs multiple scenarios

India is evaluating the impact of US President Donald Trump’s reciprocal tariffs set to be announced on April 2. The Commerce and Industry Ministry is preparing scenarios based on tariff differences and discussing non-tariff barriers with the domestic industry. Trump indicated that India and other countries will be lowering their tariffs significantly.

Commerce and Industry Minister Piyush Goyal stated India’s tariff policy aims to regulate trade, protect domestic industries, and raise revenue through taxes on imports and exports. With evolving trade dynamics, India is focusing on free trade agreements to lower tariffs, enhancing competitiveness and international trade. Monitoring imports ensures domestic industries are safeguarded under WTO rules.

The White House has criticised India’s high tariffs on American agricultural products, with Press Secretary Karoline Leavitt calling them “virtually impossible” for US exporters to overcome. As President Trump prepares to roll out reciprocal tariffs on 2 April, the move signals a sharp escalation in trade tensions. While India has offered concessions on select farm […]

Finance Minister Nirmala Sitharaman will visit London from April 8-10 to discuss the proposed free trade agreement and bilateral investment treaty with the UK. She will attend the India-United Kingdom Economic and Financial Dialogue. Key issues include resolving the resolution of disputes and market access for goods and services between the two countries.

India’s tea exports reached 254.67 million kg, worth Rs 7111.43 crores in 2024, moving up to third place globally. North India contributed 60.79% in quantity and 67.96% in value. The Tea Board of India celebrates its 72nd Foundation Day on April 1, 2025.

Indian industry and government officials remain uncertain if US President Trump’s threat of reciprocal tariffs on trade partners, including India, will materialize on April 2. This move could significantly impact sectors spanning agriculture and industry, with varied tariff impacts, leading stakeholders to hope for deferred decisions and fair trade negotiations to minimize disruptions.

Finance Minister Nirmala Sitharaman’s visit to London aims to address key issues related to the proposed India-UK free trade agreement and bilateral investment treaty. Discussions are expected to cover market access, investment disputes, and FDI in the insurance sector, along with increased access for Indian students and professionals in the UK.