- Title: India in ‘wait and watch mode’ on US tariffs, says finance ministry
- Date: 3rd April 2025
- Summary: NEW DELHI, INDIA (APRIL 03, 2025) (ANI - No use India) (SOUNDBITE) (English) INDIA'S MAIN OPPOSITION CONGRESS PARTY LEADER, SHASHI THAROOR, SAYING: "I would say that in the short term, obviously 26% sounds like a bad news but it also depends on how we compete with other countries with the same goods we are exporting, which will become more expensive. We have a good trade b
- Embargoed:
- Keywords: Congress Donald Trump India Narendra Modi USA companies import duties impose investment opposition leaders parliament party politics reciprocal tariffs
- Location: INTERNET/NEW DELHI, INDIA/WASHINGTON DC, USA
- City: INTERNET/NEW DELHI, INDIA/WASHINGTON DC, USA
- Country: Various
- Topics: Budget/Taxation/Revenue,Government/Politics
- Reuters ID: LVA004M33CDVZ
- Aspect Ratio: 16:9
- Story Text: India's Junior Finance Minister Pankaj Chaudhary, on Thursday (April 03) said they are in 'wait-and-watch mode' after U.S. President Donald Trump slapped a 26% tariff on imports from India.
A baseline 10% baseline tariff starts on Saturday, before the remaining, higher reciprocal tariff takes effect from April 9.
India's trade ministry in a statement on Thursday said they were also engaging with stakeholders, including Indian exporters and taking their feedback to assess the situation after implementation of the tariffs.
Opposition leaders in New Delhi said India would have to make some concessions in terms of its tariffs amid increasing competition with other countries for exporting the same goods.
India gains a natural competitive advantage in several key sectors due to the relatively lower tariffs imposed.
The U.S. has a trade deficit of $46 billion with India. - Copyright Holder: ANI (India)
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