Exim Bank provides input on US reciprocal tariffs impact with govt

Amid the threat by US President Donald Trump to impose reciprocal tariffs on India from April 2, 2025, the Export and Import Bank of India (Exim Bank) has held discussions and provided inputs to the government on the potential impact of the same on Indian exports.

 

Speaking on the sidelines of an event organised by the bank, Deepali Agrawal, deputy managing director (DMD), Exim Bank, said, “There is a lot of work being done. From our side also, we have given a reasonable input to the ministry. The discussions are in place on how to make it more relevant... because the majority of India's exports are to the US, and it will have a significant impact, depending on what the demands are coming from the other side.”

 

 

She, however, declined to share the nature of the inputs provided to the government.

 

Trump had threatened to impose reciprocal tariffs on several countries, including India, Brazil, and China. He also threatened to impose tariffs on Mexico and Canada.

 

Agrawal said that India’s exports are concentrated in the US, and there is a need to diversify towards Latin America, where they see interest growing over time. However, she added that this shift would not happen merely because of issues with the US.

 

Exim Bank is conducting its own research on potential markets across the globe, including South-East Asian and African markets.