Minister of State for Finance Pankaj Chaudhary on Thursday stated India is assessing tariff hike imposed by the US and its impression on the nation.
“For (Donald) Trump, it’s America first however for Modi, it’s India first. We’re assessing the impression of reciprocal tariffs imposed by the US,” he stated on the sidelines of an occasion organised by PFRDA right here.
Requested about its impression on India, he stated evaluation is being performed.
The US has introduced 26 per cent reciprocal tariffs on India saying New Delhi imposes excessive import duties on American items, because the Donald Trump administration goals to scale back the nation’s commerce deficit and increase manufacturing.
The transfer is predicted to impression India’s exports to the US. Nonetheless, specialists say that India is better-placed than its rivals who additionally face elevated levies.
President Trump, in a historic measure to counter greater duties on American merchandise imposed globally, introduced reciprocal tariffs on about 60 international locations.