Finance Minister Nirmala Sitharaman acknowledge that the tariffs being planned by US impact on India, but still Piyush Goyal currently holding discussions with Trump on this Trump’s tariffs matter. While speaking at post-budget event in Vishakapatnam, Sitharaman said India is make efforts currently to protects the exports. She said that India will take call only after results of ongoing negotiations is clear.
India Commerce Minister engage with US officials amid Trump’s tariffs
Commerce Minister of India, Piyush Goya has hold discussions with the US officials, include United States Trade Representative (USTR), Sitharaman said.” She said that , “ we will have to see how we handle negotiations with US to ensure that India Interests are represented well.”
On Wednesday, the trump reiterated the tariffs will come into effect from 2 april against all countries, that charge the high taxes from country. But the indian officials hope for resolution that will helps India to escape the tariffs, and culminate in trade deal by fall
Reciprocal tariffs
Trump said that the strategy goals to address the unfair trade practices. It consists the non-monetary barriers, subsidies, and VAT systems. This approach is designed to encourage the foreign countries to reduce or eliminate Trump’s tariffs on US products. It establish the manufacturing operations in the US and contribute to economic growth.
But tariffs on Mexico and Canada roiled financial markets, reduce consumer confidence and bring businesses in an uncertain atmosphere. As results, it delays the hiring and investment. The tariffs come into effect on Tuesday, but trump rolled back as market tanked.
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