Union Commerce Ministry Analyzes US' 26 Percent Reciprocal Tariff
According to reports, the Union Commerce Ministry is analyzing how the US's 26 percent reciprocal tariffs or import charges would affect India.
All imports into the US are said to be subject to universal 10 percent tariffs starting on April 5 and the remaining 16 percent taxes starting on April 10.
India and the US are currently engaged in bilateral trade negotiations.
By the fall (September–October) of this year, the two nations want to have the first part of the agreement finalized.
As he imposed reciprocal tariffs on other nations, Donald Trump mentioned the hefty tariffs that India charges on American goods.
He also declared a 26 percent "discounted" reciprocal duty on India.
"This is Liberation Day, a long-awaited moment. 2nd April 2025 will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again. We are going to make it wealthy, good, and wealthy," Trump said in remarks from the Rose Garden at the White House as he announced the closely watched reciprocal tariffs on countries that impose levies on American goods.
During his announcement of the tariffs, he displayed a chart that listed the reciprocal duties that nations like China, India, the UK, and the EU now have to pay in addition to the tariffs that these nations currently impose.
According to the figure, America would now impose a discounted reciprocal tax of 26 percent on India, which imposed tariffs of 52 percent, including trade restrictions and currency manipulation.
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"India, very, very tough. Very, very tough. The prime minister just left. He's a great friend of mine, but I said, you're a friend of mine, but you're not treating us right. They charge us 52 per cent...," he said.