Tariff Impact
Govt assessing impact of US tariffs on India, says junior finance minister
This story was originally published at 11:47 IST on 3 April 2025
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--Jr finance minister: Assessing impact of US tariffs on India
NEW DELHI - The Indian government is assessing the impact of the reciprocal tariffs imposed by the US, Minister of State for Finance Pankaj Chaudhary said on Thursday. "We will analyse impact of US tariff, see how to tackle it," Chaudhary said at an event here.
The US has imposed reciprocal tariffs on its trading partners, including a 27% duty on imports from India, as per US President Donald Trump's executive order, even though the President himself announced a 26% tariff on India. Prior to the imposition of tariffs, economists had projected a 10-30 basis points hit to India's GDP growth from the US tariffs.
"...India very, very tough...Prime Minister (Narendra Modi) just left...he is a great friend of mine. I said you (Modi) are a great friend of mine but you're not treating us right. They (India) charge us 52% and we charge them almost nothing," Trump said while announcing the tariffs.
Chaudhary said that the US comes first for Trump, and India comes first for Modi. End
Reported by Priyasmita Dutta and Sagar Sen
Written by Shubham Rana
Edited by Vandana Hingorani
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