Finance Minister Pankaj Chaudhary said on Thursday that India is evaluating the tariff hikes imposed on the United States on the United States and their impact on the country. He said on the sidelines of the incident organized here by the PFRDA here: “For (Donald) Trump, this is the first for the United States, but for Modi, this is the first for India. We are evaluating the impact of the mutual tariffs imposed by the United States on the United States.”
When asked about its impact on India, he said an assessment is underway.
The U.S. announced a 27% reciprocal tariff on India, saying New Delhi imposed high import tariffs on U.S. goods as the Donald Trump administration aims to reduce the country’s trade deficit and boost manufacturing.
The move is expected to affect India’s exports to the United States. But experts say India is better than its competitors facing increased tax revenue.
President Trump has announced reciprocity tariffs on about 60 countries with a historic measure to deal with higher tariffs on U.S. products imposed worldwide.
