New Delhi: Reacting to the announcement of tariffs by US President Donald Trump, the Indian government has said that the Department of Commerce is “evaluating the implications” of the measures.
In a statement issued Thursday, the Ministry of Commerce and Industry said: “Keeping in view the vision of Viksit Bharat, the Department is engaged with all stakeholders, including Indian industry and exporters, taking feedback of their assessment of the tariffs and assessing the situation. The Department is also studying the opportunities that may arise due to this new development in the US trade policy.”
Besides a baseline duty of 10 percent on all goods entering the United States, the country has imposed an additional duty of 27 percent on India, according to Annex I of Trump’s Executive Order, the statement said.
The government also reaffirmed its commitment to ‘Mission 500’, a joint initiative announced by Prime Minister Narendra Modi and Trump in February 2025, with the aim to double US-India bilateral trade to $500 billion by 2030. “Discussions are ongoing between Indian and US trade teams for the expeditious conclusion of a mutually beneficial, multi-sectoral Bilateral Trade Agreement,” the statement read.
India has also reiterated the importance of its Comprehensive Global Strategic Partnership with the US under the Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology (COMPACT) framework, adding that it is committed to working closely with the US to ensure that trade ties remain mutually beneficial.
The baseline tariff announced by Trump will come into effect on 5 April, while the country-specific additional tariffs will be implemented on 9 April.
Announcing the new US tariff regime Wednesday, Trump said, “For far too long, other countries have looted and plundered us, while taking advantage of our policies. But no longer. 2 April will forever be known as Liberation Day, when America reclaimed its industries.”
Speaking specifically about India, Trump said: “India…very, very tough… very, very tough. The Prime Minister (Modi) 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 percent. You have to understand, we charge them almost nothing for years and years and decades, and it was only seven years ago, when I came in, that we started with China.”
He deemed the tariffs a concession, referring to them as “discounted reciprocal tariffs”.
During his first term, back in 2019, he had called India the “Tariff King”, citing high duties on motorcycles. Last year, he had called India a “very big abuser” in terms of import tariffs.
(Edited by Mannat Chugh)
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