Posted on 03/25/2025 4:12:53 AM PDT by Oldeconomybuyer
India is open to cutting tariffs on more than half of U.S. imports worth $23 billion in the first phase of a trade deal the two nations are negotiating, two government sources said, the biggest cut in years, aimed at fending off reciprocal tariffs.
The South Asian nation wants to mitigate the impact of U.S. President Donald Trump’s reciprocal worldwide tariffs set to take effect from April 2, a threat that has disrupted markets and sent policymakers scrambling, even among Western allies.
In an internal analysis, New Delhi estimated such reciprocal tariffs would hit 87% of its total exports to the United States worth $66 billion, two government sources with knowledge of the matter told Reuters.
Under the deal, India is open to reducing tariffs on 55% of U.S. goods it imports that are now subject to tariffs ranging from 5% to 30%, said both sources, who sought anonymity as they were not authorized to speak to the media.
In this category of goods, India is ready to “substantially” lower tariffs or even scrap some entirely, on imported goods worth more than $23 billion from the United States, one of the sources said.
(Excerpt) Read more at cnbc.com ...
India appears smarter than Canada at the moment.
Canada will get smart as well, but right they have an election. Doing business with Trump is an election sinker.
Trump wants to see Trade....balanced...If it can be done....then ALL tariffs can be removed.
Canada wants to try Orange Man Bad first. They believe the media.
I have no problem making India our next China
Some food for thought...
DC_Draino
@DC_Draino
The External Revenue Service will be launched next month
This is a huge part of Trump transitioning DC away from income tax on citizens and towards tariff taxation on foreign countries
This is how America was largely financed for decades until the early 1900s
Trump is bringing it back
https://x.com/TheChiefNerd/status/1904227084446191642/video/1
2:51 PM · Mar 24, 2025 92K Views
https://x.com/DC_Draino/status/1904244746174021963
India saying, please take a compromise, don’t take all our tariffing advantage away.
And the Philippines
The Philippines- yes good idea. They are good folks
Economists and commentators view tariffs as a lose/lose game. Trump sees it as poker. Trump has taken the political and economic worlds and turned them all edgewise. He is so out-of-the-box in his thinking that you can’t see the box from where he is. Will he always win? Probably not. But the progress so far is astonishing.
I would be happy if the only thing he got rid of was the trans insanity. It’s definitely in its dying throws. But we’re getting so much more.
Doesn’t sound so great to me
23 billion in exports should shield 23 billion of imports, not 63 billion
It's about damn time... good for President Trump - good for India.
The USA will always need a minimum tariff to protect US worker wages. Otherwise it is a race to the bottom.
Here is the reality:
Tariffs raise revenue, decrease budget deficits, are not progressive, protect domestic industry, promote domestic industry and makes us stronger economically.
Tariffs are a WIN-WIN-WIN-WIN-WIN.
good for India? WHO CARES?
Fixed it.
AI:
Tariffs, which are duties imposed on imported or exported goods, have several advantages:
Good they made the right decision...
I just googled prtectioniunis
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