New Delhi [India], April 3 : The United States has imposed a 27 percent "reciprocal tariff" on certain Indian exports, highlighting trade tensions between the two nations. Reacting to the move, BJP MP Praveen Khandelwal on Thursday said that the Indian government is expected to take measures considering the broader implications.
"Our government will certainly take some steps, keeping the implications in mind," Khandelwal told ANI.
He further added, "Our bilateral trade discussions with America are also ongoing. I believe that the tariffs they have imposed must have been applied from a certain perspective. Our government must be considering this matter and engaging in discussions with the Trump administration to minimize its impact on India-US business relations."
Earlier, US President Donald Trump announced new import tariffs on Wednesday (local time), outlining the rates to be imposed on countries around the world. India will face a 27 percent tariff.
Calling Prime Minister Narendra Modi a "great friend," Trump said that India charges the US 52 per cent, and "we charge them almost nothing."Trump's announcement came while he addressed the Make America Wealthy Again Event.
At the event, Trump said, "India very, very tough. The Prime Minister just left and is a great friend of mine, but you are not treating us right. They charge us 52 per cent, and we charge them almost nothing..."
Trump further said, "The United States charges other countries only a 2.4 tariff on motorcycles. Meanwhile, Thailand and others are charging much higher prices like 60%, India charges 70%, Vietnam charges 75%, and others are even higher than that."
The US President further said that a 25 per cent tariff would be imposed on all foreign-made automobiles.
"Such horrendous imbalances have devastated our industrial base and put our national security at risk. I don't blame these other countries at all for this calamity. I blame former presidents and past leaders who weren't doing their job... Effective at midnight, we will impose a 25% tariff on all foreign-made automobiles," Trump said.
The import tariffs on other major countries are China (34 per cent), European Union (20 per cent), Vietnam (46 per cent), Taiwan (32 per cent), Japan (24 per cent), India (26 per cent), United Kingdom (10 per cent), Bangladesh (37 per cent), Pakistan (29 per cent), Sri Lanka (44 per cent), Israel (17 per cent).