U.S. President Donald Trump stated India will likely be hit by like-for-like duties from April 2, at the same time as officers in New Delhi scurry to appease Washington by decreasing commerce boundaries.
India is “one of the highest tariffing nations in the world,” Trump stated on Wednesday in an interview with conservative media outlet Breitbart Information. “I believe they’re going to probably going to be lowering those tariffs substantially, but on April 2, we will be charging them the same tariffs they charge us.”
Whereas Trump has repeatedly indicated that the South Asian nation gained’t be spared on April 2, Indian officers have been placing a extra optimistic tone. Piyush Goyal, the nation’s commerce minister, visited the U.S. earlier this month and stated he had a “forward looking discussion” with Trump officers on a commerce deal that the 2 sides are hoping to seal by fall.
Within the latest weeks, India has lowered duties on imports of bourbon and high-end bikes, and likewise agreed to purchase extra power and weapons from the U.S. Officers in New Delhi have been discussing decreasing duties for a variety of different merchandise as effectively, together with vehicles, some agricultural merchandise and chemical compounds, Bloomberg Information has reported.
The South Asian nation has additionally been banking on the pleasant ties Prime Minister Narendra Modi and Trump have cultivated through the years. The Indian prime minister was among the many first international leaders to go to Trump after his return to the White Home, and lavished praises on the U.S. president in a latest interview.
Within the Breitbart Information interview, Trump stated he has a “very good relationship” with India, however burdened his “problem” with the nation’s tariff construction.
This story was initially featured on Fortune.com
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