NEW DELHI: The Indian government clarified on Friday that while the United States has imposed additional duties on steel and aluminium imports from all countries without exemptions, no country-specific or reciprocal tariffs have been levied on India as of now.
Government Closely Monitoring Impact
Minister of State for Commerce and Industry Jitin Prasada informed the Rajya Sabha in a written reply that the government is carefully evaluating the impact of these increased duties. These tariffs, imposed by the US, represent an enhancement over existing levies and come without exemptions that were previously granted to certain major exporting countries.
“There has been no imposition of country-specific or reciprocal tariffs by the US on India as of now,” Prasada stated, adding that India is actively engaged in discussions with its US counterparts to ensure fair trade practices and mitigate the impact on Indian exporters.
US Investigating Trade Imbalances
Prasada noted that the US administration had issued a memorandum on February 13, directing officials to investigate trade imbalances and recommend corrective measures for each trading partner. The government remains vigilant in assessing how these measures might affect Indian exports, particularly in the steel and aluminium sectors.
Ongoing Dialogue to Boost Bilateral Trade
Despite these additional duties, India and the US continue to engage in constructive dialogue aimed at strengthening bilateral trade relations. Prasada highlighted the “Mission 500” initiative, which seeks to double trade between the two nations to $500 billion by 2030. The initiative focuses on:
- Reducing tariff and non-tariff barriers
- Increasing market access
- Improving supply chain integration
Trump’s Criticism of India’s Tariff Regime
The US’s latest move follows former US President Donald Trump’s repeated criticisms of India’s tariff policies. Trump has frequently referred to India as one of the “highest tariffing nations” and hinted at imposing reciprocal tariffs to match those levied by India on US imports.
In a previous interview with Breitbart News, Trump remarked, “I have a very good relationship with India, but the only problem I have with India is they’re one of the highest tariffing nations in the world.” He further expressed his intent to impose “an eye for an eye, a tariff for a tariff” to balance the trade relationship between the two nations.
While tensions over tariffs persist, India’s continued engagement with the US reflects its commitment to fostering balanced and mutually beneficial trade relations. The government remains optimistic about resolving outstanding trade issues through diplomatic channels.
