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Date: 22/01/2025

India prepares trade strategy to meet Trump moves on tariffsa

India continues to prepare for possible actions that it could take, including tariff cuts, market access demands and retaliatory moves, in response to how Trump’s tariff threats play out. Discussions with the industry and within the government on possible duty cuts to make the US happy and also identification of offensive interests are on. But concrete steps to face and counter US actions can be planned only once the Trump regime shows its cards. India could work on lowering its simple average tariffs to 10% from 17%, strengthen Make in India by focussing on deeper manufacturing, and also be prepared for a calibrated response to any unwarranted action by the Trump government. The US is India’s top trading partner with $77.5 billion in FY24, driven by strong US demand, as per a report.

Source: Exim News Service: New Delhi, Jan. 21