'No shock from tariff, its effect is mixed', government is reviewing the impact of 27% retaliatory duty

The Indian government is keeping a close eye on US President Donald Trump's announcement of retaliatory tariffs and examining its effects. The Commerce Ministry is examining the effect of a 26 percent US reciprocal tariff or import duty on India. On Thursday, a government official stated that a universal tariff of 10 percent on all imports in the US will come into action from April 5 and the remaining tariff of 17 percent will come into action from April 10. He feels this won't come as a surprise to us. Its effect will not be very high. Its mixed impact can be noticed.

The official said, "The ministry is analyzing the impact of the tariff." He also said that there is a provision that if a country resolves or tries to address the concerns of the US, then the Trump administration can consider reducing the tariff against that country. India is already negotiating a bilateral trade agreement with the US. Both countries are trying to finalize the first phase of the agreement by the autumn of this year (September-October). The official said, "This will bring a mixed effect. There will be no one-sided result. There is no shock for India."

Earlier, the US President listed the high tariffs imposed by India on American products. He announced reciprocal tariffs on all countries. Under this, a 27 percent reciprocal duty was announced in India. Announcing the retaliatory tariff, Trump said that our country has been looted by other countries. American taxpayers have been cheated for more than 50 years, but now this will not work. Trump said, 'India, very, very tough. Prime Minister Narendra Modi has just left. He is a very good friend of mine, but I said you are my friend, but you are not treating us right. They charge us 52 percent duty.'