Trump’s order imposes 27% additional duty on Indian exports
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New Delhi: The executive order issued by US President Donald Trump has imposed an additional 27% duty on Indian goods entering the US, prompting the Commerce and Industry Ministry, led by Piyush Goyal, to carefully assess its implications, the ministry said on Thursday.
Trump's order on reciprocal tariffs enforces additional ad-valorem duties ranging from 10 per cent to 50 per cent on imports from all trading partners. A baseline duty of 10 per cent will come into effect on April 5, 2025, while the remaining country-specific additional duties, including the 27 per cent tariff on Indian goods, will be implemented from April 9, the ministry stated.
"The Department of Commerce is carefully examining the implications of these measures and announcements made by the US President. Keeping in mind the vision of Viksit Bharat, the department is engaging with all stakeholders, including Indian industry and exporters, to assess their feedback on the tariffs and study the opportunities that may arise from this shift in US trade policy," the official statement said.
On February 13, Prime Minister Narendra Modi and President Trump launched "Mission 500," aiming to more than double bilateral trade to $500 billion by 2030. As part of this initiative, Indian and US trade teams are engaged in discussions to finalize a mutually beneficial, multi-sectoral Bilateral Trade Agreement, addressing a broad spectrum of issues, including deeper supply chain integration.
"The ongoing talks are focused on strengthening trade, investments, and technology transfers between the two nations. We remain in touch with the Trump Administration on these matters and expect to make progress in the coming days," the statement added.
India continues to value its Comprehensive Global Strategic Partnership with the United States and is committed to working closely with Washington to implement the India-US 'Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology’ (COMPACT) framework for the 21st century. This collaboration aims to ensure that trade relations remain a pillar of mutual prosperity and drive transformative change for the people of both nations, the ministry emphasized.
With IANS inputs