The US has placed India in the list of countries that have been imposed ‘discounted recipes’.
The US has announced to impose a mutual tariff of 26 percent of its largest business partner countries. But let us tell you, India collects the opposite and double the tariff from America, exactly the opposite and doubles. You can understand that America has given a 50 percent discount to India to India, otherwise America could also impose 52 percent tariffs on India. Understand here that tariff is a fee on products imported from a country. The company importing goods pays the government to its country’s government. The US has placed India in the list of countries that have been imposed ‘discounted recipes’. The White House has released a list of 100 such countries. The administration of President Donald Trump believes that India charges more import duty on American goods, so it was now necessary to take this step to reduce the country’s trade deficit and promote manufacturing.
Trump has said this about India
In his response, Donald Trump has also said that India is very strict. The Prime Minister (Narendra Modi) has just gone from here. He is my very good friend, but I said that you are my friend, but you are not treating us right. They charge 52 percent from us. You have to understand, we did not charge them for years and decades.
Meaning of implementing tariffs on India
After the introduction of mutual tariffs in India, at least 26% fee will be implemented on all Indian goods entering the US from April 9. This will make businessmen difficult to assess the damage. America’s trade deficit with India is $ 46 billion. Trump has made it clear that these tariffs will continue until this problem is solved. Trump said that the US so far charges only 2.4 percent on motorcycles from other countries. India charges 70 percent of us. After this tariff, one thing is clear that India will import anything from America, new tariffs will have to be repaid.
US President Donald Trump, who was present on the occasion of announcing the tariff on April 2 at the White House.
America was India’s largest trading partner
FY 2021-22 to 2023-24 America was India’s largest trading partner. The US accounts for around 18 percent in India’s total goods exports, 6.22 percent in imports and 10.73 percent in bilateral trade. India’s trade surplus (differences between imports and exports) in terms of goods in 2023-24 with the US in 2023-24 is US $ 35.32 billion. It was US $ 27.7 billion in 2022-23, US $ 32.85 billion in 2021-22, US $ 22.73 billion in 2020-21 and US $ 17.26 billion in 2019-20.
What can be the effect on India
According to PTI, Agriculture Economist Ashok Gulati said on Thursday that India may maintain or increase its agricultural exports despite a new declared fee, as competitive countries are facing even more fees. Gulati said that if it is compared to the high fees levied on regional competitors, 26 percent of the fee of Trump on Indian goods will have a limited impact on major agricultural exports such as seafood and rice. Some experts also believe that its effect can also be seen on agriculture, machinery, pharma, electrical, chemical sector.
India is analyzing the impact of counter -duty
The Ministry of Commerce is analyzing the impact of reply duty of 26 percent imposed by the US on imports from India. According to PTI, a senior government official gave this information today. The official said that a similar 10 percent duty on all imports in the US will be applicable from April 5 and the remaining 16 percent duty from April 10. He said that there is a provision that if a country resolves the concerns of America, the Donald Trump administration can consider reducing the fee against that country. India is already interacting with the US on bilateral trade agreement.
