New Delhi:
A Government of India official said that India is not planning to retaliate against US President Donald Trump’s 26 percent tariff, which is cited by the ongoing conversation for a deal between countries.
Prime Minister Narendra Modi’s administration has focused on a section of Trump’s tariff order that provides a possible vengeance to business partners, “take important steps to remove non-traded trade systems”, the official said, who refused to be nominated as a dialogue details.
New Delhi sees an advantage in being one of the first nations to start a conversation with Washington, and is better than Asian peers like China, Vietnam and Indonesia, which is hit by high American tariffs, a second government official said, it has also declined to be nominated.
In the days after Trump’s announcement of tariffs, which has shaken the global markets to its core, India included nations such as Taiwan and Indonesia to rule counter tariffs, even the European Commission prepares to hit American products with additional duties after China’s retaliation.
India and the United States agreed to make an initial trade deal to solve their deadlock on tariffs by autumn 2025 in February.
The Indian Prime Minister’s Office did not immediately respond to the e-mail request for the comment.
Reuters reported last month that New Delhi was open to cut tariffs on US imports of $ 23 billion.
Modi’s administration has taken several steps to win over Trump, including reducing tariffs on high-end bikes and borbon and leaving a tax on digital services affecting American technical giants.
Trump’s tariffs can slow down India’s economic growth in the ongoing financial year by 20-40 basis points and cripple the diamond industry of India that risks more than one third of its export ships to the US in thousands of jobs.
(This story is not edited by NDTV employees and auto-generated from a syndicated feed.)