US Tariffs Issue: Know What Centre Tells Rajya Sabha Over Trump’s Tariffs
The Narendra Modi government on Friday said that there has been no imposition of country-specific, including reciprocal tariffs by the United States on India. Minister of state (MoS) for commerce and industry Jitin Prasada said United States has issued a Memorandum on Reciprocal Trade and Tariffs on February 13, 2025, wherein the Secretary of Commerce and United States Trade Representative are to take necessary actions to investigate harm to the US from any non-reciprocal trade arrangements adopted by trading Partners and provide a report with detailed proposed remedies for each trading partner.
Trump has repeatedly criticised the high tariffs charged by India. He said that India is a very high-tariff nation and reiterated that reciprocal tariffs on countries that impose levies on American goods. There has been no imposition of country-specific, including reciprocal tariffs by the US on India. There has been the imposition of additional duties on steel and aluminium imports by the US from all countries without any exemption.
Prasad said impact of these duties which are an enhancement over existing additional duties, is being closely evaluated due to the fact that there are no exemptions as compared to exemptions earlier to certain major exporting countries in these sectors. Both the countries continue to engage with each other to achieve “enhancement and broadening of bilateral trade ties in a mutually beneficial and fair manner added the minister.
Both nations released a joint statement on February 13, 2025, reaffirming their commitment to deepening economic ties. Under the ambitious “Mission 500”, both countries aim to more than double US-India trade to USD 500 billion by 2030 to be achieved by deepening the trade relationship across multiple sectors. Both countries have committed to negotiate a mutually beneficial, multi-sector Bilateral Trade Agreement under which the countries would focus on increasing market access, reducing tariff and non-tariff barriers, enhancing supply chain integration and resolving key trade issues bilaterally.
US President Donald Trump said he has a very good relationship with India, but the “only problem” he has with the country is that it is “one of the highest tariffing nations in the world. Trump said I have a very good relationship with India, but the only problem I have with India is they are one of the highest tariffing nations in the world.