In a significant trade development, the US administration has reportedly asked India to eliminate tariffs on almost all products, except agriculture goods, in bilateral trade, according to a report by CNBC-TV18 on March 6.
India Unlikely to Get Tariff Relief
The Donald Trump-led US administration is unlikely to offer any exemptions to India from the reciprocal tariffs, which are set to take effect from April 2. This decision follows Trump’s repeated criticism of India’s “unfair” trade practices and high import duties.
Last month, Trump specifically mentioned India during Prime Minister Narendra Modi’s visit to the White House, highlighting concerns over high tariffs on US goods.
Impact on India-US Trade Relations
If the US enforces zero tariffs on most products, Indian exports to the US could face increased competition, while US goods might enter the Indian market at lower prices. The lack of tariff relief also raises concerns about India’s trade balance and competitiveness in key industries.
With the April 2 deadline approaching, all eyes are on New Delhi’s response and whether trade negotiations can bring any flexibility to the US stance.
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Source: Moneycontrol.
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