Numerous departments and ministries are examining various circumstances and doing sector-by-sector study of a potential tariff increase.
According to a December 19 article in The Economic Times, India is preparing for potential export tariff rises by the Trump administration in order to lessen the impact. According to the article, several ministries and departments are examining various scenarios and conducting sector-by-sector assessments of a potential tariff increase.India may consider lowering import taxes on specific US goods in order to allay the worries of US President-elect Donald Trump, the report stated.
Trump, who assumes office on January 20, has once again accused countries like Brazil and India of imposing high tariffs on American goods and threatened to impose reciprocal tariffs on them.
Trump pledged to fix what he called "longstanding imbalances" and emphasized the importance of trade fairness during a news conference held at Mar-a-Lago on December 16. "If they tax us, we tax them the same amount," Trump stated. "On certain products, India charges us 100 or 200 percent. If we send them a bicycle and they send us one, we charge them nothing and they tax ours significantly. "That's going to change," he said, according to a PTI report.
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