NEW DELHI: US President Donald Trump is “actively negotiating” trade deal with India, Vietnam and Israel ahead of the new tariff deadline, CNN reported citing officials. This came after Trump administration imposed 10% tariff on all US imports, which is set to take effect this Saturday, with steeper tariffs scheduled to follow on April 9.
Meanwhile, no such confirmation has been made from India’s side. The central government has, however, said that it was “carefully examining” the tariff situation.
“The Department of Commerce is carefully examining the implications of the various measures / announcements made by the President of the USA. Keeping in view the vision of Viksit Bharat, the Department is engaged with all stakeholders, including Indian industry and exporters, taking feedback of 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 the US trade policy,” it said in a statement.
Trump announced sweeping reciprocal tariff plans, claiming that foreign nations have “looted, pillaged, raped, [and] plundered” the country. Speaking on ‘Liberation Day’, he presented a chart outlining the proposed tariffs: 34% on Chinese products, 26% on Indian goods, 20% on imports from the European Union, 25% on South Korean items, 24% on Japanese exports, and 32% on goods from Taiwan.
Meanwhile, Trump’s son Eric gave a clue to the countries saying the “first to negotiate will win – the last will absolutely lose.”
“I wouldn’t want to be the last country that tries to negotiate a trade deal with @realDonaldTrump. The first to negotiate will win – the last will absolutely lose. I have seen this movie my entire life…,” he said.
Unlike China, India did not respond with any reciprocal tariffs.
Trump lashed out at Beijing for retaliating against his tariff measures, claiming China “panicked” after he announced an additional 34% levy on all Chinese imports, following an earlier 20% tariff aimed at curbing fentanyl shipments.
While urging affected countries not to panic but instead engage in dialogue, he took aim at nations like Canada and China for choosing retaliation over negotiation.
“China played it wrong, they panicked – the one thing they cannot afford to do!” Trump said.
India, on the other hand, has so far taken a soft stand with promoting jointly announced ‘Mission 500′, aiming to more than double bilateral trade to $500 billion by 2030.
It was announced during a bilateral meet between PM Modi and Donald Trump during the former’s visit to the US earlier this year.
