US may scrap 25% penal duty on India, cut reciprocal tariffs to 10-15%: CEA

Chief Economic Adviser V Anantha Nageswaran on Thursday said he anticipates that the United States may soon reverse the additional tariffs imposed on Indian goods, a move that could bring much-needed relief for exporters who have been grappling with steep duties since August.

- MPOST BUREAU

Speaking at interactive sessions organised by the Bharat Chamber of Commerce and later the Merchants Chamber of Commerce and Industry in Kolkata, Nageswaran said Washington's 25 per cent penal tariff could be rolled back as early as November 30.

"I do believe that the penal tariffs will not be there beyond November 30," he remarked, clarifying that it was an assessment rather than a conclusion drawn from any formal assurance.