(Image source from: x.com/howardlutnick)
The Department of Commerce is thoroughly investigating the potential effects of the US reciprocal tariffs on India and is actively engaging with various stakeholders, such as domestic industries and exporters, to gather their insights, as stated in an official announcement on Thursday. According to the commerce ministry, it is also analyzing the possibilities that could emerge from this latest shift in US trade policy. President Donald Trump has revealed plans to implement additional ad-valorem tariffs ranging from 10 percent to 50 percent on imports from all trading partners. The initial 10 percent duty will take effect on April 5, followed by a 27 percent tariff starting on April 9. Some sectors, including pharmaceuticals, semiconductors, and energy products, will be exempt from these tariffs.
LIBERATION DAY RECIPROCAL TARIFFS pic.twitter.com/ODckbUWKvO
— The White House (@WhiteHouse) April 2, 2025
The statement indicated that the Department of Commerce is closely scrutinizing the impacts of the recent measures announced by the US President. It also highlighted that ongoing dialogue is taking place between Indian and US trade representatives to hasten the completion of a mutually advantageous, multi-sectoral Bilateral Trade Agreement (BTA). This agreement aims to address a variety of topics of shared interest, such as enhancing supply chain integration. The current negotiations are centered on fostering growth in trade, investment, and technology transfers between the two nations. The Department noted, “We maintain communication with the Trump Administration regarding these matters and anticipate progressing on them in the near future.” Furthermore, it emphasized the importance of the Comprehensive Global Strategic Partnership with the United States and expressed a commitment to collaborate closely for the mutual benefit of both countries' citizens.
Press Communique by The Department of Commerce, Government of India on the Reciprocal Tariffs issued by the US President. #DoC_GoI @PIB_India
— Dept of Commerce, GoI (@DoC_GoI) April 3, 2025
Read more - https://t.co/gAKXxsK0D2 pic.twitter.com/sFUxZaFzHz
