India Considers Duty Cuts to Avert Tariff War with Trump: Report
Various ministries and departments are reviewing different situations and undertaking sector-wise analysis of a possible hike in tariffs
India is getting ready for possible tariff increases by the Trump administration on exports to minimise the impact, The Economic Times reported on December 19. Various ministries and departments are reviewing different situations and undertaking sector-wise analysis of a possible hike in tariffs, the report said.
To address US president-elect Donald Trump’s concerns, India may look to reduce import duties on certain products from the US, it said.
Trump, who takes office on January 20, has again threatened reciprocal tariffs on nations such as India and Brazil, accusing them of levying steep duties on American goods.
Speaking at a news conference at Mar-a-Lago on December 16, Trump stressed the need for fairness in trade and vowed to address what he described as long-standing imbalances. “If they tax us, we tax them the same amount,” Trump said. “India charges us 100 or 200 percent on some products. If they send us a bicycle and we send them a bicycle, they tax ours heavily while we charge them nothing. That’s going to change,” a PTI report quoted him as saying.
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