Inter-ministerial panel formed to monitor imports

The Centre has set up an inter-ministerial panel to closely monitor imports hitting domestic shores, amid fears of diversion of shipments from neighbouring nations such as China, Vietnam, Thailand and Indonesia towards India, people aware of the matter said.

- SHREYA NANDI

This is because the United States (US) has imposed higher reciprocal tariffs on these countries compared to India's 26 per cent.

As much as 34 per cent tariff will be levied on China, 46 per cent on Vietnam, 32 per cent on Indonesia and 36 per cent on Thailand.

Last week, US President Donald Trump said that country-specific reciprocal tariffs will be imposed on 60 countries with which Washington has the largest trade deficits. The reciprocal tariffs are set to come into force from April 9.