US Tariffs: Minimal Impact on India's Export amidst Trade Negotiations
US tariffs of 25% are expected to have a limited effect on India's $85 billion exports to America, as half of the goods are exempt. India remains firm on not granting duty exemptions on agricultural, dairy, and GM products. Bilateral trade talks between India and the US are underway.
- Country:
- India
US-imposed tariffs of 25% on goods will only marginally impact India's $85 billion exports to America, with half of the exports falling under exempt categories, stated sources.
Despite ongoing bilateral trade negotiations, India is steadfast in not providing duty exemptions on agricultural, dairy, and genetically modified products, as these sectors hold religious and economic significance.
The Indian government is analyzing these tariff implications, engaging with stakeholders for feedback, and pursuing negotiations to mitigate the effects, aiming for a revised bilateral trade agreement with the US by this fall.
(With inputs from agencies.)
Advertisement
Google News