- 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) (Hindi) INDIA'S JUNIOR FINANCE MINISTER, PANKAJ CHAUDHARY, SAYING: "It is the US' job and President Donald Trump's responsibility to look out for Americans because the citizens are their first priority. Same way, India is Prime minister Narendra Modi's first priority. Let's wait and watch the differences th
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- 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: LVA002M33CDVZ
- 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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