On Thursday, the Indian government announced it is looking closely at the new 10% tariff on goods from all countries, announced by U.S. President Donald Trump. They are particularly focused on the 27% tariffs on products from India and are exploring any chances this may bring for India.
The Union commerce ministry said they are talking to everyone involved, including businesses and exporters, to understand how these tariffs will affect them and to plan for a stronger India. They mentioned the goal set by Prime Minister Narendra Modi and President Trump on February 13 to increase trade between India and the U.S. to $500 billion by 2030.
The Indian and U.S. trade teams are currently discussing a beneficial trade agreement covering many areas. Their goal is to help both countries grow in trade, investments, and technology sharing.
The Indian government values its strong partnership with the U.S. and is working closely with them on the COMPACT initiative, which aims to boost military ties, trade, and technology. This partnership is important for both countries’ growth and to improve the lives of their citizens.
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