New Delhi is proactively engaging with Washington following the positive talks that commerce and industry minister Piyush Goyal had in person with his American counterparts during his recent visit, officials said.
“The US has not publicly said that they are applying reciprocal tariffs on India. There is a legal process… We don’t know if reciprocal tariffs will come on April 2, because they will complete the investigation till April 1, after which they will ask for recommendations,” one of the officials said. “But nobody is sure about reciprocal tariffs. Till now, we know there is an investigation that they are doing.”
Noting that reciprocal tariffs are not something India is engaging in because it is the US’ policy, the official said: “We do not know yet whether reciprocal tariffs will be sectoral, product wise. We have not approached US on reciprocal tariffs, we are talking to them as per our joint statement.”
Bilateral trade
The two sides are discussing “all measures required” to take bilateral trade to $500 billion from $200 billion at present, commerce secretary Sunil Barthwal said on Monday.”India is proactively engaging with the US. The government is weighing both opportunities and challenges emerging from US tariffs. We are conducting stakeholder consultations on these issues and will resolve them on a bilateral basis,” Barthwal said. Noting that there is forward movement in the talks with the US, he said: “India is expecting a positive outcome from the trade talks”.On being asked if New Delhi has told Washington to not impose reciprocal tariffs, Barthwal said: “The path we have taken is BTA and its contours are being worked out and that is in our hands.”
Goyal met with US commerce secretary Howard Lutnick and US trade representative Jamieson Greer during his visit to Washington from March 4-6.
Content Source: economictimes.indiatimes.com