The remarks from White House press secretary Karoline Leavitt come a day before US President Donald Trump's proposed reciprocal tariffs come into effect
The attrition in US energy flows to India comes even as the US announced a 25% tariff on automobile, and proposed to impose a reciprocal tariff on Indian products from April 2
Just like Trump's tariffs will be mostly paid by American consumers, the burden of the so-called Indian equalisation levy had to be absorbed not by the tech platforms, but by the advertisers
Interministerial talks to explore tariff cuts and market access; key sectors under focus include EVs, oil derivatives, plastics, and sensitive farm goods like dairy and almonds
US last week imposed a 25% tariff on the import of automobiles and certain automobile parts
The next level of the proposed bilateral trade agreement will be held virtually, eventually looking to finalising the broad contours of trade deal; meanwhile, the threat of reciprocal tariffs kicking
Trump hails PM Modi as a 'very smart man' and a 'great friend,' expressing confidence that India-US trade talks will resolve tariff issues for a mutually beneficial outcome
Unlike China, Canada and the EU, India is actively seeking to appease the Trump administration and is open to cutting tariffs on over half of US imports worth $23 billion
Apart from the additional tariffs that have been imposed on Mexico, China and Canada by the US, these countries account for 50 per cent of the US's total imports, which stands at over $3 trillion
Analysts at Barclays, meanwhile, estimate that nearly $22 billion worth of India's exports (30 per cent of exports to the US and 5 per cent of total goods exports) are most at risk
India and the visiting US officials have decided to hold a wrap-up session on Saturday morning to conclude the three-day talks on the proposed bilateral trade agreement, government sources said. They said the discussions are at a "very" early stage. A team of US officials, headed by Assistant US Trade Representative for South and Central Asia Brendan Lynch, is here for negotiations on the proposed agreement. "Early stage of discussions are going on," one of the sources said, adding that nothing has been finalised so far. Commerce and Industry Minister Piyush Goyal on Thursday said the ongoing talks between India and the US for the proposed pact are progressing "well" and will be for the "good" of both nations while protecting India's interests. The official level deliberations assume significance as US President Donald Trump has announced imposing reciprocal tariffs on April 2 on America's key trading partners, including India. He has on multiple forums stated that India imposes
The US has imposed additional import duties on steel and aluminium and the government is evaluating its impact, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Jitin Prasada said there has been the imposition of these duties on steel and aluminium imports by the US from all countries without any exemption. "The impact of these duties which are an enhancement over existing such additional duties is being closely evaluated due to the fact that there are no exemptions as compared to exemptions earlier to certain major exporting countries in this sector," he said. As of date, there has been no imposition of country-specific reciprocal tariffs by the US on India, he added. The minister informed that India continues to engage with the US to achieve enhancement and broadening of bilateral trade ties in a mutually beneficial and fair manner. The two countries aim to more than double trade to USD 500 billion by 2030 to b
The US plan to impose reciprocal tariffs will not have much impact on India and create several opportunities for the country, Niti Aayog Programme Director Pravakar Sahoo said on Friday. Compared to Mexico, China and Canada, which account for 50 per cent of America's total imports, India is favourably placed, he added. "We are looking at the data at a very dis-segregated level...these are preliminary results, but I can just give you the overview that we are not going to lose. This reciprocal tariff is not going to affect except very specific sectors and in fact, there are opportunities to really capture," he added. Sahoo was speaking after the release of the second edition of Niti Aayog's quarterly trade watch. He said that a detailed analysis of the reciprocal tariff plan's impact on India will be presented in the next edition of the report. The three main competitors in the US market are - Canada, Mexico and China. They account for 50 per cent of the USA's total imports of USD 3
New Delhi has promised to step up energy purchases from the United States to $25 billion in the near future from $15 billion last year
Among digital services, one of the contentious issues on the table is India's data localisation norms - cross-border flow of data - that have been a concern for American companies
Industry observers say the tariff impact on Indian auto sector would be minimal, though some impact could be seen on auto component industry
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
In a report published last year, India was mentioned only as one of the countries from which Mexican groups were sourcing chemicals. China, on the other hand, was named as the primary supplier
In an internal analysis, New Delhi estimated such reciprocal tariffs would hit 87 per cent of its total exports to the United States worth $66 billion
In the second such visit from the Trump cabinet, US National Security Adviser Michael Waltz is set to be in India next month to unveil initiatives for cooperation in areas of high technology, critical minerals and export controls, people familiar with the matter said on Tuesday. Waltz, known to be a votary of strong India-US ties, may visit India between April 21 to 23, they said, adding both sides are in the process of finalising the dates. US Vice President JD Vance is also considering paying a visit to India along with Indian-American Second Lady Usha Vance and their children in the next couple of months. It is learnt that Vance and his family were planning to travel to Shimla, Hyderabad, Jaipur and Delhi. Initially, the US Vice President was looking at visiting India in the second half of next month but it is understood that the plan may change. The visit by US NSA Waltz is taking place weeks after US Director of National Intelligence (DNI) Tulsi Gabbard visited India. The DN