- India sees the advantage to be early to start commercial talks with us.
- New Delhi opens to reducing prices on American imports worth $ 23 billion.
- Trump’s unleashed rates can paralyze the India diamond industry.
New Delhi: India does not plan to retaliate against the 26% tariff of US President Donald Trump on imports from the Asian nation, said an Indian government official, citing current talks for an agreement between countries.
The administration of Prime Minister Narendra Moda examined a clause of the Trump pricing order which offers a possible stay for business partners who “take important measures to remedy non -reciprocal commercial arrangements,” said the official, who refused to be appointed as the details of the talks are confidential.
New Delhi sees an advantage in being one of the First Nations to have started discussions on a trade agreement with Washington, and is better placed than Asian peers such as China, Vietnam and Indonesia, which were struck by higher American prices, said a second government official, also refusing to be appointed.
In the days following the announcement of Trump’s price which shaken the global markets to their hearts, India joined nations like Taiwan and Indonesia to exclude counter-tale tariffs, even though the European Commission is preparing to strike American products with additional duties after reprisals in China.
India and the United States agreed in February to win an early trade agreement by fall 2025 to resolve their deadlock.
The office of the Indian Prime Minister did not immediately respond to a request for comments by e-mail.
Reuters Last month, New Delhi was open to reducing prices on American imports worth $ 23 billion.
The Administration of Modi has taken a number of measures to win Trump, including the drop in high -end bike prices and bourbon, and the abolition of a digital services tax that affected American technology giants.
Trump prices could slow down India’s economic growth from 20 to 40 basic points during the current financial year and can paralyze the India industry in diamonds, which dispatches more than a third of its exports to the United States, endangering thousands of jobs.