New Delhi: As Trump is getting close to the time limit for installing mutual tariffs on India, India has sent Commerce Minister Piyush Roy to Washington. He has canceled all his predetermined meetings and has left for Washington. This journey is taking place at a time when Trump is likely to impose mutual tariffs on many countries including India in the coming days. Usually such meetings are already decided, but this time it is surprising that Piyush Goyal suddenly had to go. According to sources, the schedule of this visit is till March 8. Trump had announced a mutual tax on several countries around the world, including India before Prime Minister Narendra Modi’s visit to America.
He said in a conversation with PM Modi that India imposes high tax on American products and now America is going to adopt a similar policy. He justified his policy. Apart from this, it was decided to increase bilateral trade by $ 500 billion by 2030 during PM Modi’s visit to America last month.
America is one of the largest trading partners in India. Both of them have traded $ 106 billion till January in the current financial year. India has a business surplus with him. Tariffs planted by the US expect the most impact on chemicals, metals, jewelery and food products.
Piyush Goyal will give some explanation regarding mutual taxes during his visit to America. During this time some of its effects on India will also be reviewed. He will also discuss the relief available to Indian exporters. Along with this, they will also discuss business deals made to increase bilateral trade.
Donald Trump has said on several occasions that he intends to implement mutual tax in early April. This has increased concern among Indian exporters, especially automobiles and agricultural sector exporters. These tariffs will cause India loss of seven billion dollars per year. Meanwhile, India has already taken steps to reduce fees on some goods with a view to reduce the struggle on the trade front.
The fee on high -grade motorcycles has been reduced from 50 percent to 30 percent. While the tariff on Borbon Whiskey has been reduced from 150 percent to 100 percent. India has also promised to review other tariffs, increase energy imports and buy more military resources from the US.
