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INDIA: India Reportedly Considering Tariff Cuts as Trump Duties Loom

INDIA
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Indian officials are exploring ways to lower tariffs on a wide range of imports, including cars and chemicals, in a bid to evade US President Donald Trump’s threatened reciprocal levies, Bloomberg report citing people familiar with the matter. More from the story below:

  • "Officials in New Delhi are discussing reducing duties for automobiles, some agricultural products, chemicals, critical pharmaceuticals, as well as certain medical devices and electronics."
  • "The proposals would go much further than previous tariff reductions already unveiled by Prime Minister Narendra Modi’s administration in recent weeks, like on high-end motorcycles and bourbon whiskey — goods exported by the US to India, but while politically important for Trump, aren’t sold in large volumes in the South Asian nation." 

As a reminder, Bloomberg reported following the Trump-Modi meet earlier in the month that the two would seek to lay the groundwork for some form of a trade pact between the two economies with the aim of having it in place this year.

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Indian officials are exploring ways to lower tariffs on a wide range of imports, including cars and chemicals, in a bid to evade US President Donald Trump’s threatened reciprocal levies, Bloomberg report citing people familiar with the matter. More from the story below:

  • "Officials in New Delhi are discussing reducing duties for automobiles, some agricultural products, chemicals, critical pharmaceuticals, as well as certain medical devices and electronics."
  • "The proposals would go much further than previous tariff reductions already unveiled by Prime Minister Narendra Modi’s administration in recent weeks, like on high-end motorcycles and bourbon whiskey — goods exported by the US to India, but while politically important for Trump, aren’t sold in large volumes in the South Asian nation." 

As a reminder, Bloomberg reported following the Trump-Modi meet earlier in the month that the two would seek to lay the groundwork for some form of a trade pact between the two economies with the aim of having it in place this year.