India willing to cut tariffs on American imports after Trump’s pressure
New Delhi: After immense pressure from U.S. President Donald Trump, India has expressed its readiness to reduce tariffs on $23 billion worth of American imports.
According to Kashmir Media Service, a report by the Indian newspaper India Today stated that, as part of the trade agreement with the U.S., the Indian government is prepared to reduce tariffs on more than half of the $23 billion American imports. This would be one of the largest tariff cuts in recent years, aimed at halting reciprocal tariffs that have been harming exports.
The report further mentioned that the Indian government is attempting to mitigate the impact of U.S. President Donald Trump’s global tariffs, which are set to take effect on April 2. These new tariffs have disrupted markets and raised concerns in several countries, including some of the U.S.’s Western allies.
The new U.S. tariffs could impact 87 percent of India’s exports to the U.S., worth approximately $66 billion. To avoid this impact, India is willing to reduce tariffs on 55 percent of American imports, which are currently taxed between 5 percent and 30 percent. Some imported items may see significant tariff reductions, while others may have tariffs entirely eliminated. This proposal is still under discussion, and the Indian government has not made a final decision.
Before the implementation of these U.S. tariffs, the Indian government is attempting to finalize an agreement, with a U.S. delegation led by Brendan Lynch, U.S. Trade Representative for South and Central Asia, currently in India for trade negotiations.
Business experts stated that if tariffs on Indian exports increase, U.S. companies may shift to other suppliers, such as Indonesia, Israel, and Vietnam, further affecting Indian businesses.
