India Considers Reducing Tariffs on U.S. Imports to Avert Reciprocal Taxes

Image Courtesy -https://marksmendaily.com/

In a major policy shift, India is considering lowering tariffs on $23 billion worth of U.S. imports to avoid potential economic fallout from America’s upcoming reciprocal tax policy, set to take effect on April 2, 2025.

The reciprocal tax, introduced under the U.S. Trade Expansion Act, aims to counteract high tariffs imposed by trade partners, including India, on American goods. If implemented, this move could impact a wide range of Indian exports, particularly pharmaceuticals, textiles, and auto parts, which rely on the U.S. market for a significant portion of their revenue.

Government officials from India have expressed concerns about the economic consequences of a trade conflict with the U.S., which remains one of India's largest trading partners. According to sources, Indian policymakers are evaluating a reduction in duties on American agricultural products, industrial equipment, and medical devices as a strategic compromise to maintain favorable trade relations.

Trade experts suggest that this development follows Prime Minister Narendra Modi’s recent visit to Washington, where discussions on bilateral trade barriers were a key agenda item. Reducing tariffs could also serve as a goodwill gesture, ensuring that Indian businesses continue to enjoy favorable export conditions in the $3 trillion U.S. economy.

If the decision materializes, it could mark a significant shift in India's trade policy, potentially leading to a new era of economic cooperation between the two nations.

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