Donald Trump expects India to cut tariffs on US products, but ‘will charge them the same from April 2’
By : Sandhya
US President Donald Trump stated in an interview with Breitbart News on Wednesday that he thinks India would lower tariffs on American goods. Tariffs are import taxes levied by the government that businesses must pay in order to import goods from other countries. India has not yet been subject to reciprocal duties from the United States, the Center told Parliament last week.
Following his criticism of India and other countries for levying excessive taxes on American goods, which he described as "very unfair," the explanation was made. Additionally, he declared that starting on April 2, the United States would impose reciprocal tariffs on nations that levy taxes on American goods. India and the US agreed to more than increase their bilateral trade to USD 500 billion by 2030 during Prime Minister Narendra Modi's trip to Washington last month.
Additionally, they committed to completing the first stage of a multi-sector BTA by the fall of 2025. Trade between the two countries totaled USD 190.08 billion in 2023, with USD 66.19 billion coming from services and USD 123.89 billion from commodities. India had a trade surplus of USD 43.65 billion after exporting USD 83.77 billion worth of commodities to the United States and receiving USD 40.12 billion.