WTO data indicates the U.S. trade-weighted average tariff stands at 2.2%, whilst India’s is 12. (AI image) India is willing to reduce tariffs on over 50% of American imports valued at $23 billion during the initial stage of a trade agreement under negotiation between the two countries, two government officials told Reuters. This significant reduction…
Union minister Piyush Goyal NEW DELHI: Commerce and industry minister Piyush Goyal on Thursday suggested to industry that it was imperative to shed some protectionism as the world was looking at reciprocity, while assuring exporters that govt was working overtime to protect their interests.“Reflecting on reciprocal tariffs, he has cautioned the EPCs (export promotion councils)…
NEW DELHI: Apple could be one of the biggest losers in case the Trump administration decides to slap reciprocal tariffs on import of electronics and smartphones from India as the move may put a spanner in its growing manufacturing investments here.The situation is equally grave for auto component makers, who ship parts worth billions of…
NEW DELHI: As govt begins its homework for the proposed trade deal with the US, it has indicated its willingness to engage in tariff reduction with Trump administration on a bilateral basis, arguing that with an “aggressive neighbourhood” in China duties cannot be lowered significantly for all trading partners, while hoping to get a good…
NEW DELHI: Govt on Monday said it will draw up the broad contours of the proposed bilateral trade agreement with the US over the next few weeks, even as it keeps tabs on how the Trump administration’s move to impose reciprocal tariffs unfolds.“Give us a couple of weeks to decide what is the level of…
US President Donald Trump has vowed to impose what he calls reciprocal tariffs on countries, such as China, Brazil, France, the European Union, India and others, to “restore the fairness in US trade relationships and countering non-reciprocal trading arrangements”. The “Fair and Reciprocal Plan” ostensibly seeks to “correct long-standing imbalances” in global trade and ensure…
