India considers reducing tariffs, importing US goods, and striking a trade deal to address Trump’s trade action threats.
India is proactively strategising to counter potential trade actions by a new Trump administration, including reducing tariffs and boosting imports from the United States. Officials are assessing scenarios to address the $35.3 billion trade surplus India holds with the US, its largest trading partner, for the year ending March 31.
Proposed Measures
- Increased Imports: India may import more whiskey, steel, and oil from the US.
- Reduced Tariffs: Likely cuts on goods like bourbon whiskey, pecan nuts, and farm products.
- Targeted Purchases: Considering lower duties on imports from politically crucial US states for the Republican Party.
These efforts aim to strengthen trade relations and mitigate the impact of any potential tariffs while maintaining India-US economic ties.
