The Ministry of Trade analyzes the impact of 26 percent mutual rates or import duties imposed by the US to India, said a high government official on Thursday. According to the civil servant, the Universal will take 10 percent rates for all entry into the US from 5 April and the remaining 16 percent from 10 April.
“The Ministry analyzes the impact of the announced rates,” said the civil servant, adding that there is a provision that if a country would tackle the US’s worries, the Trump government could consider reducing the tasks against that nation.
India is already negotiating a bilateral trade agreement with the US. The two countries want to close the first phase of the pact against the fall (September-October) of this year.
“It’s a mixed bag and not a setback for India,” said the civil servant.
The US President mentioned the high rates that were charged by India to American products, while announcing mutual rates in countries across the board and a mutual rate of 26 percent “discounted” in India.
“This is Liberation Day, a long -awaited moment. April 2, 2025 will be remembered forever when the day that American industry was reborn, the day Americas was recovered, and the day we started making America again. American goods.
As he announced the rates, he stopped a graph that showed the rates that countries such as India, China, the UK and the indictment of the European Union, together with the mutual rates that these countries will now have to pay.
The graph indicated that India charged 52 percent rates, including currency manipulation and trade barriers, and America would now charge India a reduced mutual rate of 26 percent.
“India, very, very heavy. Very heavy. The prime minister is just gone. He is a good friend of mine, but I said, you are a friend of mine, but you don’t treat us well. They charge us 52 percent …”, he said.
