India preparing data defence to counter Trump’s reciprocal tariff plan
Subscribe to enjoy similar stories. New Delhi: Even as India and the US agreed to boost bilateral trade to $500 billion by 2030 and work towards a trade deal that will reduce duties and improve market access, the issue of reciprocal tariffs hangs in balance.
On its part, India plans to counter US President Donald Trump’s reciprocal tariffs plan with data to show that most imports from the US into India have duties less than 10%, two officials aware of the development said. An exhaustive list of products with their import duties is being prepared by the ministry of commerce along with the ministry of external affairs, and will be presented in the next round of trade talks with the US, the two officials cited above said on the condition of anonymity.
The talks are likely to be held before April, when the US is expected to bring out its final list of reciprocal tariffs across products and countries. Also read | India was first-time lucky with Trump's tariffs. But it doesn't want to take a chance “Most US products do not attract high tariffs in India, as the country has kept duties relatively low on key American exports," the first official cited above said.
“For instance, for the top 100 US exports to India, the average tariff is below 5%, reflecting a trade environment that facilitates the flow of goods between the two nations." “India’s tariffs are not as high as it is being projected," said the second official. “It’s as per the global practice." Queries emailed to spokespersons of the Prime Minister’s Office, ministries of commerce and external affairs, and the secretaries of commerce and DPIIT (Department for Promotion of Industry and Internal Trade) remained unanswered till press time.
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