US President Donald Trump, in an interview with Breitbart News on Wednesday, said he believes India would reduce tariffs on American goods, news agency Reuters reported.
“I believe they are 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,” Donald Trump was quoted as saying, reported Reuters.
Tariffs are government-imposed import duties that companies must pay to bring foreign goods into a country.
Last week, the Centre informed Parliament that, as of now, the United States has not imposed reciprocal tariffs on India. The clarification came after Trump criticised India and other nations for imposing high tariffs on American goods, calling them “very unfair”. He also announced that from April 2, the US would implement reciprocal tariffs on countries that impose levies on American products.
On February 13, the US issued a memorandum on reciprocal trade and tariffs, directing the commerce secretary and the US trade representative (USTR) to assess the impact of non-reciprocal trade arrangements on the US economy. They are required to investigate potential harm and submit a report with proposed remedies for each trading partner.
