India Closely Monitors Trade Talks with US as Reciprocal Tariff Deadline Approaches

 Union Finance Minister Nirmala Sitharaman has stated that India is closely watching the ongoing trade negotiations with the United States, with the April 2 deadline for reciprocal tariffs by President Donald Trump fast approaching.



Speaking at the launch of the book The Glimpses of World History in Visakhapatnam, Andhra Pradesh, Sitharaman emphasized the importance of these discussions and their potential impact on Indian exporters. “We will have to see how the Commerce Ministry handles the negotiations in the US,” she remarked.

Ongoing Negotiations and Government’s Efforts

The Finance Minister’s comments come at a critical time as Union Commerce Minister Piyush Goyal is currently in the US for discussions aimed at protecting the interests of Indian exporters.

Sitharaman reassured that India has effectively communicated its concerns to US counterparts and highlighted key measures undertaken by the government, including:

  • Conducting stakeholder consultations before negotiations.

  • Facilitating active discussions led by Commerce Minister Piyush Goyal in the US.

  • Ensuring ongoing data-sharing with relevant industry groups to safeguard exporters' interests.

While discussions are ongoing, Sitharaman refrained from speculating on the outcome. “That’s all I can say for now - let’s see what comes out of the negotiations,” she stated.

Trump’s Push for Reciprocal Tariffs

The trade talks are taking place amidst President Trump’s push for reciprocal tariffs, a policy designed to impose import duties on foreign goods equivalent to what US exports face in those markets. This has raised concerns among Indian exporters, particularly in sectors such as textiles, pharmaceuticals, and IT services, which heavily rely on stable trade relations with the US.

On Tuesday, Trump reaffirmed his stance, setting a firm deadline for the implementation of reciprocal tariffs on April 2. He asserted that India would not receive any concessions.

“India charges us 100 percent tariffs; the system is not fair to the US, it never was. On April 2, reciprocal tariffs kick in. Whatever they tax us, we will tax them. If they use non-monetary tariffs to keep us out of their market, then we will use non-monetary barriers to keep them out of our market,” President Trump declared during his address to a joint session of Congress.

Implications for India-US Trade Relations

India and the US share deep economic ties, but trade tensions have surfaced in the past over market access, tariff structures, and regulatory policies. The outcome of the current negotiations will play a crucial role in shaping the future trajectory of India-US trade relations under the Trump administration.

As the deadline nears, the Indian government remains vigilant in ensuring that the country’s trade interests are safeguarded while seeking to maintain a strong economic partnership with the US.

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