Indian official says Donald Trump's reciprocal tariff is ‘mixed bag, not a setback’: Report
By : Sandhya
The impact was "mixed bag and not a setback," a commerce ministry official told news agency PTI, only hours after US President Donald Trump announced a "discounted" 26% retaliatory tariff on Indian exports to the nation. The official, who asked not to be named, stated that universal 10% tariffs will be applied to all US imports starting on April 5 and the remaining 16% taxes on April 10.
The official stated, "It is a mixed bag and not a setback for India." The commerce ministry is analyzing the impact on India's trade, the Indian official added, adding that the Trump administration has stated that it is open to lower tariff rates if its trade issues are resolved.
The White House had threatened to raise tariffs unless nations addressed its complaints about bilateral trade and retaliated further. Trump referred to Prime Minister Narendra Modi as "a great friend" during his "Liberation Day" address, but he also said that the nation was "not treating us right."