India has decided to head on President Donald Trump’s mutual tariff plan. The government has prepared its own list of tariffs and non-tariff barriers for sectors facing the US in negotiations on a bilateral trade agreement (BTA) with Washington, D.C. The source states.
“The government has sought new input from various industries and export agencies on the issues facing trade with the US. Information is being asked about tariff barriers and non-tariff or regulatory barriers. “We are given a strict timeline of less than a week as negotiations may begin soon,” the official tracking the issue is BusinessLine.
On February 13, Trump signed an order of “fair and mutual planning” that imposes tariffs on trade partners seeking to correct “long-standing imbalances” in international trade.
He has suffered in India and points out that the country’s tariffs are very high, 70% and sometimes more for many goods.
The executive order was signed just before Trump’s meeting with Prime Minister Narendra Modi, with the two set a goal of double bilateral trade at $500 billion by 2030, with a first year-end deadline of two. It has decided to tackle a National Trade Agreement (BTA). Tranche…
Trump said the trade deficit with India is $100 billion, but government figures show that it is actually less than half that. In 2024, India’s surplus in goods trade with the US exceeded just over $35 billion, but the surplus was slightly boosted when services were included.
Trump has shown that the US-India BTA will help address “long-term disparities” in trade relations, but said India would like to take advantage of the opportunity to organize its own set of issues. These include high tariffs on some items, prohibitions for certain agricultural and industrial products, and long processing times for business visas. .
“India has already reduced its import operations for items of interest to the US, including bourbon whiskey, motorcycles, ICT products, metals and more, and is ready to buy more oil, gas and defense equipment from the country, and is also available to the public. , I want to get some benefits. BTA,” the source said.
The government will compile what the industry is proposing and move it forward in negotiations with the US government,” the source added.
Top exports in India to the US include engineering products, electronics, jewelry and jewelry, drug formulations and biology, petroleum products and ready-made clothing.
