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Goyal Warns Against Trade Diversion By Other Countries
Financial Express Pune
|April 26, 2025
INDIA WOULD NOT allow itself to be used for transshipment of exports of countries facing high tariffs in the US as it will dent its image of a trusted trade partner, commerce and industry minister Piyush Goyal said Friday.
The US has imposed 145% tariffs on imports from China while for other additional tariffs are just 10%. This difference is a major disruptor of global trade flows and is prompting companies to rethink their sourcing strategies.
"At no point of time will we allow India to become a route for transshipment or breaking the rules of origin so that other countries bring material into India, do a little bit of processing and supply it to a third country," Goyal said at the 6th India Steel International Conference.
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