Faced with President Donald Trump's reciprocal tariffs, India on Thursday said it is studying the opportunities that may arise from this new development in US trade policy.
The recent imposition of a 27 per cent reciprocal tariff on Indian exports by the United States, while exempting the pharmaceutical sector, has raised concerns about potential future trade restrictions on drug exports.
The Indian Pharmaceutical Alliance (IPA) on Thursday welcomed the exclusion of pharmaceuticals from US tariffs, with Secretary General Sudarshan Jain emphasising the deepening of India-US trade ties under the Mission 500 initiative, aiming to double bilateral trade to USD 500 billion.
The possible trade agreement between India and the United States could include key sectors such as agriculture, automobiles, and pharmaceuticals, says a report by Jefferies.
The United States Trade Representative (USTR) has highlighted several trade and regulatory challenges in Monday's National Trade Estimate (NTE) Report, raising concerns over India's tariffs, non-tariff barriers, intellectual property policies, digital trade, and transparency.
US President Donald Trump will announce a new tariff plan on April 2, dubbed "Liberation Day," in a Rose Garden press conference. While details remain unclear, the administration has hinted at reciprocal tariffs targeting foreign trade policies deemed unfair to American workers.
Taiwan is preparing contingency plans in response to potential US tariffs, as officials emphasise that the trade surplus stems from high US demand for Taiwanese technology. President Lai Ching-te met with senior officials to assess the economic impact and discuss support measures for affecte
Representatives of India's Department of Commerce and the Office of the US Trade Representative held meeting in the national capital for four days beginning March 26 as a follow up to the two countries agreeing to expand bilateral trade to reach USD 500 billion by 2030, including through the
India could see a loss of around USD 6 billion, or 0.16 per cent of its GDP, in exports to the US if broad tariffs of 10 per cent are enacted, Emkay Global, a research & investment firm, said in a latest report.
Bilateral trade between India and the US is likely to be signed by the end of the year, said Arvind Virmani, Member Niti Aayog, while releasing the government think tank's 'Trade Watch July -September 12 FY25' report.