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123/A, Miranda City Likaoli Prikano, Dope
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123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
India will soon make
substantial cuts in tariffs for American products, US President Donald Trump
said ahead of his April 2 reciprocal
tariff announcement. “I heard just a while ago that India is going to be dropping its tariffs substantially. And I said why didn’t somebody do
this a long time ago. A lot of countries will be dropping their tariffs,” Trump
said in a media briefing on Monday (31 Mar ’25) from his Oval office.
Top officials from India and the US had four days
of talks on trade and tariff issues last week in New Delhi to lay the contours
for a bilateral trade agreement (BTA). But neither of the two sides shared
details of the tariff cut commitments made by India. Sources said the US made demands
of steep tariff cuts for many products such as automobiles, motorbikes, a range
of agricultural items, alcohol and pharmaceutical and medical items. But there
is no clarity on whether the US would wait for India to deliver on some of
these demands by deferring the reciprocal tariffs “Trump, in his recent statements, has not given any indication of any
softening of his stance. One would not know before April 2 what his ultimate
plans are but if India has actually committed to lowering tariffs on many products,
then there could be a relaxed verdict,” a source tracking the matter told businessline...In
their meeting in Washington DC on February 14, Trump and Prime Minister
Narendra Modi agreed to try and conclude the first tranche of the BTA by the
Fall of 2025. Apart from steep tariff
cuts for many products, the US wants a range of non-tariff barriers, too, to be
addressed in the negotiations. India, too, had made a list of non-tariff
issues, such as issuance of more work visas and finalisation of a social
security agreement, that it wants the US side to consider seriously.
The US is India’s topmost trade and export partner.
The US has a trade deficit of about $35 billion with India which is much lower
than it has with some other countries such as China, Mexico, Canada, Vietnam,
Germany and Japan.
