Prime Minister Narendra Modi and US President Donald Trump shake hands while publishing a joint reporter statement after a White House meeting held in Washington, D.C. on Thursday, February 13, 2025 | Photo credit: Reuters
(February 14, 2025) said the economic think tank GTRI, and it is unlikely to hurt India as the US government imposes obligations that are imposed in line with higher obligations imposed by trading partners.
Citing an example, the Global Trade Research Initiative (GTRI) is satisfied that if the US charges 50% mutual tariffs on Indian pistachios because India charges the same thing, India will not export pistachios. He said there was.
Additionally, on the 75% value of US exports to India, the average tariff is less than 5%, says Ajay Srivastava, founder of GTRI.
In contrast, India faces high US tariffs on many labour-intensive goods, such as textiles, clothing and footwear, in the range of 15-35% on some products, he added.
“Given the differences in export profiles of both countries, mutual tariffs may not have a major impact… In the new Trump era, India waits to see US decisions on mutual tariffs in April. We may then respond with comparable measures. We did it in June 2019,” Srivastava said.
After talks with Washington Prime Minister Narendra Modi, US President Donald Trump announced that India will increase oil, gas and military hardware from the US to overthrow the trade deficit, but Washington has made New Delhi mutual He insisted that he would not spare the customs duties.
The trade deal details are not yet clear, but the mutual tariffs scheduled to be announced in April could be limited, he said.
The US has already announced 25% non-compatible tariffs on steel and aluminum.
“This is also not the best time for an FTA (free trade agreement) or a full trade agreement, as the US does not respect FTA. Examples include Mexico and Canada to steel and aluminum in violation of the USMCA. It’s the way we imposed customs duties (US Mexico and Canada) regulations,” Srivastava said.
GTRI also said the US is not clear whether mutual tariffs apply to a particular product or sector as a whole.
According to the White House fact sheet dated February 13th, “The tariff on agricultural products in the US average most favorable countries (MFN) is 5%. However, the average applied MFN tariff in India is 39%. Motorcycles in India Although we only charge 2.4% tariffs on the company. “In this regard, Srivastava said the US must choose the criteria (product or sector) for transparent decision-making.
From November to November 2024, the US was India’s second largest trading partner, with two-way goods of $82.52 billion (exports worth $528.9 billion, imports of $29.63 billion, 2326 (Billion dollar trade replenishment)
From 2021-24, the United States was India’s largest trading partner. The US is one of the few countries where India has a trade surplus.
From 2023-24, the US was India’s largest trading partner, with bilateral trade of $1197.1 billion ($775.1 billion worth of exports, $421.9 billion imports, $3.531 billion in trade technology). I’ve won.
Published – February 14th, 2025 02:16 PM IST
