Trump signals no reciprocal tariff reprieve for India

Analysts say possible measures by US could cost India $7 bn a yr

- SHREYA NANDI

United States (US) President Donald Trump, in his address to Congress on Tuesday, signaled that there would be no reprieve for India from the reciprocal tariffs set to take effect on April 2. Through reciprocal tariffs, the US aims to match other countries' tariffs, taxes, and non-tariff barriers.

"On average, the European Union, China, Brazil, India, Mexico and Canada, and countless other nations charge us tremendously higher tariffs than we charge them. It's very unfair. India charges us auto tariffs higher than 100 per cent... On April 2, reciprocal tariffs kick in and whatever they tariff us other countries, we will tariff them. Whatever they tax us, we will tax them," Trump said addressing a joint session of the Congress.

This is not the first time Trump has called India a high-tariff nation. In the past, he has made it clear that Washington would not exempt India from reciprocal tariffs.