'Mixed bag, not setback': Modi Govt Analyze the impact of 26 % Trump tariff | Today news

Trump tariffs: The Union Ministry analyzes the Union’s impact of 26 percent reciprocal rates or import duties imposed by the US on India, a senior government official said on Thursday, the PTI news agency reports. According to the official, quoted by the news agency, the Universal will come into effect from April 10 at all imports to the US and the remaining 16 percent from April 10. “The ministry analyzes the impact of the announced rates,” the official said, and there is a provision that if a country will address the concerns of the US, the Trump administration may consider reducing the duty against the nation. India is already negotiating a bilateral trade agreement with the US. The two countries intend to finalize the first phase of the treaty by the fall (September-October) of this year. Mixed bag “This is a mixed bag and not a setback for India,” the official said. Donald Trump listed the high rates that India charged on US products, while announcing reciprocal rates on countries across the council and declaring a “discount” of 26 percent on India. “This is Liberation Day, a long -awaited moment. April 2, 2025 will be remembered forever, as the day of the American industry was reborn, the day when America’s fate was recycled, and the day we became America again. We are going to make it rich, good and rich,” Trump said in the comments of the Rose Garden in the White House. goods. It is a mixed bag and not a setback for India. While announcing the rates, he is holding a map showing that the rates show that countries such as India, China, the United Kingdom and the European Union charge, along with the reciprocal rates these countries will now have to pay. The graph indicated that India charged 52 percent rates, including currency manipulation and trade barriers, and America will now ask India a 26 percent reciprocal discount. ‘India, very, very tough. Very, very tough. The prime minister just left. He is a wonderful friend of mine, but I said, you are a friend of mine, but you do not treat us right. They ask us 52 percent … ‘, he said. (With PTI inputs) Catch all the business news, news articles and latest news updates on Live Mint. Download the Mint News app to get daily market updates. Business NewsnewSindia’Mixed Bag, not setback ‘: Modi Govt Analyze the impact of 26 % Trump tariff more