Posted on 03/28/2025 3:55:07 PM PDT by EBH
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 authorised 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 reuters.com ...
Didn’t India have pretty high tariffs, even compared with China?
Ironically, Trump’s tariffs are producing free(r) trade than free trade.
Indian goods include Tumeric so this would be great..what Trump is doing with these tariffs is going to bring in goods at a cheaper price. I was watching Newsmax yesterday and they mentioned this very interesting fact, 40 percent of all car imported from Japan are sold here in the US..guess how many cars Japan buys from us, ONE PERCENT..yet their tariffs are high, so make it even and we have a deal
👍
What do we import from India other than H1B Visa holders and their extended extended families?
Spices?
I don’t think that is irony.
I think it’s the goal.
A lot of “Japanese” cars are actually built in the US. I don’t know if it is still true but it used to be that the American built car with the most US sourced parts was the Toyota Camry. If you buy a Toyota pickup it was built in San Antonio Texas.
Japanese companies have done a pretty good job moving manufacturing to the US.
Send your request to Judge Boasberg. That judicial tyrant will stop the winning streak in a jiffy.
“What do we import from India . . .?”
According to Google AI:
“Common Items Imported from India:
“Metals and Minerals: India is a major exporter of metals like aluminum, iron, and steel.
Machinery and Equipment: India exports a variety of machinery and equipment, including heavy machinery.
Textiles and Apparel: India is a significant producer and exporter of textiles and apparel.
Chemicals: India exports a wide range of inchemicals, including organic chemicals.
Gems and Jewelry: India is known for its gem and jewelry industry.
Agricultural Products: India exports various agricultural products, including spices, rice, and fruits.
Electronics: India exports a variety of electronic goods.
Pharmaceuticals: India is a major exporter of pharmaceuticals.
Automobile Components: India exports a variety of automobile components.”
THIS is how to conduct free trade.
This can’t be right. We were told by all the ‘Experts’ that trump doesn’t have a clue. Tariffs will ruin this country. /s
Pharmaceuticals is a big one.
The trade deficit would be significantly lower if Boeing delivered some of the hundreds of planes ordered by Indian airlines and Biden not unofficially blocked the deliveries of GE F404 engines to India on behalf of Soros.
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