India’s Chief Economic Advisor, V. Anantha Nageswaran, said that the US may soon remove the extra 25% tariff on Indian goods. He also said that the reciprocal duty by the US could be reduced from 25% to 10–15%.
Speaking at an event in Kolkata, Nageswaran said he is confident that the US will remove this tariff in the next few months, maybe even sooner. He added that the reciprocal duty could go down to the expected 10–15% level.
If this happens, it will give big relief to Indian exporters and make trade between the two countries stronger. Removing these tariffs will let Indian steel, aluminum, and other industrial products reach the US market more easily.
Meeting of Rajesh Agrawal and Brendan Lynch
Rajesh Agrawal, India’s Chief Trade Negotiator, met Brendan Lynch, the US Trade Representative for South and Central Asia, in New Delhi. This was the first meeting after the Trump government added extra tariffs on Indian exports last month.
Effect of Double Tariffs
The extra tariffs have made it hard for Indian exporters. Some products have duties up to 50%. Textiles, engineering goods, and food products are hit the most. Exporters say their profits are very low.
Relief May Come
If the US removes these tariffs and lowers duties, Indian exporters will get big help. Experts say this will reduce costs and make trade between India and the US better.