As Trump's tariff threats get louder, what's next for India-US trade ties?
Narendra Modi's US visit, India slashed customs duties on a range of products as Washington ratchets up threats of reciprocal tariffs.
In the first round, the new Trump administration imposed tariffs on China, Mexico and Canada. Trump also said he will levy a 25% tariff on metal imports.
Threat of action against India looms large as Trump has frequently called India a 'Tariff King'. In a proactive move that could help reduce the risk, India's February 1 budget reduced duties on fish hydrolysate for the manufacture of aquatic feed, specific waste and scrap items, ground installation for satellites, ethernet switches and motorcycles, which will directly benefit American exports.
The US is India's largest trading partner. In FY24, India's exports to the US were $77.51 billion, while imports were $42.2 billion. Trump has targeted countries with which the US has a trade deficit, asking for more exports.
Pressure to lower tariffs
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