Examining implications of US reciprocal tariffs: Commerce ministry

"The focus is on expeditious completion of the bilateral trade agreement talks by the fall of 2025.

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Towards this, an inter-ministerial panel (comprising officials from key line ministries) has been set up to closely monitor and discuss matters related to trade agreement," the official said, adding that the government will also consider offering support to exporters who are adversely hit by the reciprocal tariffs.

The Department of Commerce, in a statement said, it is "carefully examining" the implications of the various measures/announcements made by Trump.

"Keeping in view the vision of Viksit Bharat, the department is engaged with all stakeholders, including Indian industry and exporters, taking feedback of their assessment of the tariffs and assessing the situation. It is also studying the opportunities that may arise due to this new development in the US trade policy," it said.

India is also hopeful that a positive outcome from the ongoing negotiations from the Bilateral Trade Agreement (BTA) could significantly ameliorate any adverse impact of the reciprocal tariffs.