Indian industry seeks shield from US tariff, pushes for trade pact

Ahead of the implementation of reciprocal tariffs by the US on April 2, the Indian industry has urged the government to protect it from the impact of such levies, according to sources.

 

The industry is worried about the impact of the reciprocal tariffs and how they will adversely affect jobs. As a result, it wants a trade agreement with the US as soon as possible to mitigate the impact of these tariffs, sources said.

 

The US administration has said it will impose reciprocal tariffs from April 2 to match the tariff and non-tariff barriers on imports from America.

 

While US President Trump has repeatedly said that India, with its high tariff structure, will not be granted special treatment, he has softened his stance over the past few days. Without naming any country, he said that many countries would be given a break on April 2.

 

Currently, India and the US are holding intense discussions on the proposed bilateral trade agreement (BTA) to finalise the contours of the deal. Assistant US Trade Representative (USTR) for South and Central Asia, Brendan Lynch, along with a team of US government officials, is on a five-day visit to India starting March 25 for meetings with the Indian side. Trade talks on the BTA kicked off on Tuesday.