New Delhi:
The commerce ministry is analysing the impact of 26 per cent reciprocal tariffs or import duties imposed by the US on India, a senior government official said on Thursday.
According to the official, the universal 10 per cent tariffs will come into effect on all imports into the US from April 5 and the remaining 16 per cent from April 10.
“The ministry is analysing the impact of the announced tariffs,” the official said, adding there is a provision that if a country would address the concerns of the US, the Trump administration can consider reducing the duties against that nation.
India is already negotiating a bilateral trade agreement with the US. The two countries are aiming to finalise the first phase of the pact by fall (September-October) of this year.
“It is a mixed bag and not a setback for India,” the official said.
The US President listed the high tariffs charged by India on American products as he announced reciprocal tariffs on countries across the board, declaring a 26 per cent “discounted” reciprocal tariff on India.
“This is Liberation Day, a long-awaited moment. 2nd April 2025 will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to make America wealthy again. We are going to make it wealthy, good, and wealthy,” Trump said on Wednesday in remarks from the Rose Garden at the White House as he announced the closely watched reciprocal tariffs on countries that impose levies on American goods.
As he announced the tariffs, he held up a chart that showed the tariffs that countries such as India, China, the UK, and the European Union charge, along with the reciprocal tariffs that these countries will now have to pay.
The chart indicated that India charged 52 per cent tariffs, including currency manipulation and trade barriers, and America would now charge India a discounted reciprocal tariff of 26 per cent.
“India, very, very tough. Very, very tough. The prime minister just left. He’s a great friend of mine, but I said, you’re a friend of mine, but you’re not treating us right. They charge us 52 per cent…,” he said.
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