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The center is still observing the tariff policies announced by the US government, but its impact is currently to a large extent on the prospects for trade and global growth.
“We are observers … everyone’s fears exist due to the growth of global trade and global growth, but specifically for India, nothing has been said,” Kitti’s Finance Minister Tahn BT told BT.
His comments in the wake of US President Donald Trump announces a 25 % tariff on Canada and Mexico and an additional tariff for imports from imports from China to the United States. While Trump announced on Tuesday a 30 -day hall for tariff plans for Canada and Mexico, China had interacted with a new tariff for American exports as of February 10.
Bandy pointed out that the rationalization of customs duties rates was continuing and was announced by the Minister of Union Finance in the 2024-25 budget that was presented in July last year. “We were doing this exercise independently,” he said, when asked whether the customs duty was to take into account the policies of the United States.
He also pointed out that the Hindi tariff for American imports was not very high. He said: “In the 13 large products from the United States, you will see important products that were imported from the United States on industrial goods, and we have definitions within 10 %,” adding that with the budget exercise, it was further dropped.
He pointed out that the rate of effective tariff in India has now decreased to 10.6 %, which is close to the level of ASEAN. It was initially 13 %, then decreased to 11.6 % in the last budget.
The Federation’s budget 2025-26 removed seven introductory prices for customs duties, and they left eight prices only now, including the zero rate, and prices have been over on several elements.
Experts also emphasized that the American import tariff may harm the growth of Global GDP and increase investment risk.
“The American administration’s decision to impose an import tariff of 25 % on Canada’s goods imports (10 % on oil and relevant materials) and Mexico, and an import tariff of 10 % will probably lead to goods from China’s goods to a sharp increase in the world and said a report issued by a company Cotrick Corporation for institutional shares: “The total economic uncertainty (growth, inflation), the partial and partial level of American companies and exporters affected by definitions and feelings of risk between global markets.” By other countries and decline in profits due to low global growth and investment.
In a report, Nomura pointed out that the size of these proposed definitions dwarfs the definitions imposed by Trump during his first term. . Despite the delay in implementing the customs tariff on Mexico and Canada, the agency has also reviewed its basic case of definitions. She said: “After the events of the past few days, we believe that the possibility of definitions on Mexico and Canada in 2025 has risen.”
