Indo-US trade tariff talks: Donald Trump has shook the whole world with his prediction of tariff war after becoming the President of America. They are planning to install mutual tariffs from April 2. In such a situation, the Government of India has been trying to get tariff relief through talks with America. In tariff talks, the US is considering reducing import duty on Harley-Davidson Motorcycle, Borbon Whiskey and California wine.
Both countries are trying to reduce tariffs
According to media reports, both countries have agreed to reduce tariffs on certain products. Earlier, the government had reduced the import duty on Harley-Davidson motorcycles from 50 percent to 40 percent. Now it is being discussed to reduce it further. This will make premium bikes cheaper in the market.
Import duty reduced on American whiskey
The import duty on Borbon Whiskey was reduced from 150 percent to 100 percent. Now authorities are considering and cuts to make trade between the two countries smooth. California is also likely to reduce fees on wine.
The tariff will also be reduced in this section.
American officials are also discussing increasing American exports of drug products and chemicals to India. Since America is keen to increase its market share in India’s growing pharmaceutical sector, India is also trying to ensure favorable conditions to promote its exports to America.
