The government said on Saturday that it is studying the implications of the US Supreme Court judgement on tariffs and the steps announced by the President Trump Administration.
The US administration has imposed a 10 per cent ad valorem import duty on articles imported into the United States, after the Supreme Court struck down the reciprocal tariffs imposed by them under the IEEPA, terming them as illegal.
Soon after the US Supreme Court struck down President Donald Trump's reciprocal tariffs on countries under the IEEPA, Congress veteran P Chidambaram has asked the Indian government to explain what would be the impact of the US judgement on the trade deal framework that was announced earli
US President Donald Trump reiterated his claim of mediating a "ceasefire" between India and Pakistan in 2024 with his threats of "200 per cent tariffs" as he argued against the US Supreme Court ruling to invalidate his reciprocal tariffs.
President Donald Trump claimed the US trade deficit shrank by 78 per cent due to tariffs. However, official data showed the deficit rebounded sharply in November last year. Reports highlighted trade volatility, falling exports, rising imports, and economists' warnings about temporary fluctua
Jairam Ramesh on Tuesday reiterated his criticism of the India-US interim trade agreement, stating that New Delhi has been "forced to concede more to Washington than it has got".
"The buying of crude oil, LNG, or LPG from the US is in India's strategic interest as we diversify sources. But the decisions are taken by the buyers themselves. The trade deal does not decide who will buy what and from where," Goyal told ANI.
The deal involves reducing reciprocal tariffs from 25% to 18% and eliminating the additional 25% duty on Russian oil imports into India. India has also agreed to increase imports from the US by $500 billion, covering sectors like energy, technology, agriculture, and defence.
In its report titled "India: US-India conclude trade deal: President Trump lowers 'reciprocal' tariffs on India to 18%", Goldman Sachs noted that President Trump announced on social media a reduction in the reciprocal tariffs on Indian goods imports to 18% down from the earlier 25%, 'effecti
Former MoS MEA MJ Akbar called the India-US trade deal the "first child" of the India-EU "mother of all trade deals." He praised PM Modi's cooperative nationalism for sidelining US tariff pressure, predicting stable, promising India-US ties ahead.