India is engaging with domestic stakeholders to identify areas of gains as well as challenges amid the looming threat of reciprocal tariffs by the United States, Commerce Secretary Sunil Barthwal said on March 17.
“The government is weighing both opportunities and issues emerging from US tariffs. We are doing stakeholders consultation on these issues and will be resolving those issues on a bilateral basis,” Barthwal said.
The US is set to impose higher tariffs from April 2 under its Fair and Reciprocal Plan on countries that levy steeper duties on American goods.
Attempts to engage with stakeholders come amid US President Donald Trump repeatedly targeting India as a “tariff abuser”. He has also been calling for lower duties on American goods, especially automobiles and farm products.
To be sure, the US is yet to elaborate on its reciprocal plan.
In a meeting with exporters on March 13, Goyal urged them to come out of their 'protectionist mindset' while reflecting on reciprocal tariffs.
Allaying the concerns of the domestic industry with regard to the US, the Minister also called on the exporters to reflect on their strengths and share their demands and interests with the Government for better engagement with America.
On the proposed trade agreement between India and US, Barthwal said that all measures to raise trade between India and US to $500 billion by 2030 will be discussed while the proposed Bilateral Trade Agreement (BTA) between the two is expected be multisectoral.
"We are proactively engaging with US. Commerce Minister Piyush Goyal met Commerce Secretary and USTR during his visit to the US. There were positive talks and positive talks are continuing," Barthwal added.
Goyal during his visit to the US between March 4-6 followed up on the BTA between the two sides, which was agreed upon during Prime Minister Narendra Modi's meeting in Washington on February 13.
India and US are presently negotiating the first tranche of a mutually beneficial, multi-sector BTA by fall 2025.
Recent, media reports indicated that Washington wants New Delhi to eliminate import duties on cars through the deal, while India is said to have agreed to reduce tariffs on certain US imports, such as apples, walnuts and cranberries.
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