India will assess impact, says MoS Finance Pankaj Chaudhary

Union Minister of State for Finance Pankaj Chaudhary stated that the Indian government is evaluating the effects of the US’s reciprocal tariffs, which include a 27% levy on Indian exports. He emphasized the contrasting national priorities of President Trump and Prime Minister Modi. Trump also announced tariffs impacting around 60 countries, with varying rates for […]

Banks in Mumbai are preparing for potential defaults from exporters heavily reliant on the US market due to new 27% tariffs. Lenders are reviewing their export loan books, focusing on impacted sectors like gems, jewellery, and textiles. Banks are also examining the tariff effects on competitors and RBI’s upcoming policy review.

President Trump’s recent tariff hikes have led to significant changes in global trade dynamics, with the US increasing tariffs to 10-49%. India, while facing 26% reciprocal tariffs, sees potential opportunities in sectors like textiles, electronics, and pharmaceuticals. India is advised to focus on bilateral trade agreements and building domestic industrial resilience.

India’s commerce ministry is analyzing the impact of the US’s 26% reciprocal tariffs on imports, set to take effect in stages from April 5. While the tariffs are seen as a challenge, the government views it as a mixed situation and not a setback. India is negotiating a trade agreement with the US, aiming for […]

US President Donald Trump has imposed a 26 percent tariff on Indian imports, significantly impacting sectors like textiles, engineering goods, electronics, and gems and jewellery. The move is expected to erode margins for Indian exporters and prompt investors to shift funds to safer assets given the economic uncertainty.

President Trump imposed a 26% tariff on Indian imports, one of the highest on major US trading partners. This follows his criticism of India’s tariffs and their trade imbalance. Despite efforts by India to reduce tariffs and make concessions, the levies pressure India to finalize a trade deal. Economists suggest the tariff’s impact will be […]

President Trump has signed an executive order imposing a ‘discounted’ 26% tariff on Indian imports, addressing the high tariffs that India places on U.S. goods. This move aims to rectify unbalanced trade relationships and stimulate American industry by enforcing reciprocal tariffs on countries with which the U.S. has substantial trade deficits.

President Trump unveiled new tariffs on allies and adversaries, targeting unfair trade practices. India, China, the EU, and Vietnam are among the countries facing significant tariffs on their goods. The ‘Fair and Reciprocal Plan’ aims to boost US manufacturing and ensure balanced trade relationships.

The U.S. has criticized India for high tariffs on agricultural goods, restrictive import regulations, and challenges for American companies, especially in technology and medical sectors. The Trump administration plans reciprocal tariffs. Issues include India’s opaque restrictions on imports, high customs duties on drugs and agricultural products, and regulations on dairy imports.

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.