NEW DELHI: As US President Donald Trump reiterated that reciprocal tariffs against India and several other countries would come into effect on April 2, the government said it was working with the US to negotiate a mutually beneficial, multi-sector Bilateral Trade Agreement to strengthen two-way trade between the countries. The two govts are in the process of advancing discussions on the proposed agreement, which was announced during PM Modi’s visit to the US last month.
“Commerce and industry minister (Piyush Goyal) was in US and met his counterparts. Our objective through the BTA is to strengthen and deepen India-US two-way trade across the goods and services sector, increase market access, reduce tariff and non-tariff barriers, and deepen supply chain integration between the two countries,” MEA spokesperson Randhir Jaiswal said.
According to sources, India remains hopeful of reaching an understanding with the US on the tariff issue in the next few weeks, or before the April 2 deadline. Trump, however, again targeted India for being a “very high tariff nation” as he reiterated that the US reciprocal tariffs will kick in on April 2.
“And the big one will be on April 2, when reciprocal tariffs, so if India or China, or any of the countries that really… India is a very high tariff nation,” he said.
Trump also said right now, tariffs were “temporary” and “small ones” but “the predominant tariffs” that would be reciprocal in nature would start from April 2 and they would be a “big game changer for our country”.
