India moves to guard against Trump’s likely tariff strike
Donald Trump administration, multiple people familiar with the matter told ET.
“Ministries and departments are examining various scenarios, apprehending such a move by the US and possible remedies,” one of the persons said.
President-elect Trump on Tuesday had said the US will impose reciprocal tariffs on Indian goods because New Delhi imposes high tariffs on American goods. Independent experts said India could relook at import duty on specific products and enhance market access for certain imports from the US to address Trump’s concerns.
The US has in the past raised issues on high import duty on Harley Davidson and limited market access to medical devices and equipment as well as its dairy products into India.
Addressing US Concerns
Officials maintain that India’s most favoured nation (MFN)-weighted average import tariff is quite low at about 5-6%. Select agricultural products faced higher tariffs, but even those are much lower than the rates bound at the World Trade Organization (WTO).
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