New Delhi: India’s position in relation to mutual tariffs is like night and day. Trump’s tough stance has upset both the Ministry of Foreign and Commerce of India. At the same time, the Finance Ministry has started studying its impact. India is currently trying to reduce the impact of mutual tariffs by making a trade agreement with the US before April 2.
US President Trump has called 2 April Independence Day. It is becoming difficult to guess what he will do next by Trump taking U-turn on this issue. However, he has given some indications, in which he earlier said that he can give concessions to some countries. However, he did not say how much these concessions are. Earlier, he had given one month exemption to Mexico and Canada without asking.
Trying to avoid the tariff attack of Trump, a close relationship with the US and the leading business partner country, but according to Trump’s claim, this discount will be very difficult for him.
To avoid Trump’s tariff attack, India has agreed to cut tariffs on imports of more than $ 23 billion under the first phase of the trade agreement. The Finance Ministry of India estimates that if Trump levies a counter -duty or mutual fee, 87 percent of India’s 66 billion exports will be affected. An American delegation is currently on a tour of India and is expected to make significant progress on the issue in the coming days.
Even after this, the government can reduce taxes on Harley Davidson, Borbon Whiskey and California wine. According to sources, the two countries are still negotiating to reduce taxes on some products and promote trade relations.
The government has reduced the fee on Harley-Davidson from 50 percent to 40 percent and talks are still going on to reduce it. In addition, the import duty on Borbon Whiskey was reduced from 150 percent to 100 percent and is now expected to be further cut. California wine is also part of it. However, the conversation will not be limited to these three products. Its scope will be very large.
