US Tariff Policy / Trump claims in the midst of trade war that India will make a big cut in its tariff rates

US Tariff Policy: US President Donald Trump has recently announced that the US will impose retaliatory customs duties on its major trading partner countries from April 2. He also said that India will make 'a very big cut in its tariff rates'. He made this statement while talking to reporters in the Oval Office of the White House. Trump has previously described India as a country with extremely high tariffs, and this policy is part of his approach to protect America's trade interests.

Trade tariff dispute and US response

The Trump administration's trade policies are based on the 'tit for tat' principle, which means that the US will impose the same duty on goods imported from those countries as they impose on American products. Apart from India, China, the European Union, Canada and Mexico are also likely to be affected by this policy. A statement issued by the White House said that India imposes up to 100 percent duty on American agricultural products, making it almost impossible to import these products into India.

Reaction of EU and other countries

The EU has already reduced its duty on cars to 2.5 percent. Trump said that India is also going to cut its duty rates now, and this will be a welcome step. He questioned why this change was not made earlier.

White House's stand and protection of American interests

White House Press Secretary Caroline Levitt said that due to unfair trade policies of other countries, it has become almost impossible for American products to enter these markets. This has harmed American businessmen and workers. He said that now the time has come for America to make historic changes to protect its interests.

Further possibilities

The new tariff policy of the Trump administration will be announced on Wednesday, which will clarify which countries and products it will apply to. The team of US trade advisors, which includes Commerce Minister Howard Lutnick, Finance Minister Scott Bessant, and US Trade Representative Jamieson Greer, is working on it.

This policy of Trump can affect India-US trade relations. If India cuts its tariff rates, it could be the beginning of a new trade balance for both countries. However, it remains to be seen what impact this decision will have on India's domestic industries.