India carefully examining implications of U.S. reciprocal tariffs, says Commerce Ministry

Union Commerce and Industry Minister Piyush Goyal. File.
| Photo Credit: ANI

The Department of Commerce is carefully examining the implications of the U.S. reciprocal tariffs on India, an official statement said on Thursday (April 3, 2025). The department is engaged with all stakeholders, including domestic industry and exporters to seek their feedback on the issue, the statement added.

The Commerce Ministry said that it is also studying the opportunities that may arise due to this new development in the U.S. trade policy.

U.S. President Donald Trump has announced the imposition of additional ad-valorem duties ranging from 10% to 50% on imports from all trading partners.

The baseline duty of 10% will be effective from April 5 and the 27% from April 9. Certain sectors are exempted from these duties include pharma, semiconductors and energy products.

“The Department of Commerce is carefully examining the implications of the various measures/ announcements made by the President of the USA,” it said.

It also said that discussions are ongoing between Indian and U.S. trade teams for the expeditious conclusion of a mutually beneficial, multi-sectoral Bilateral Trade Agreement (BTA).

The talks are focused on enabling both nations to grow trade, investments and technology transfers.

“We remain in touch with the Trump Administration on these issues and expect to take them forward in the coming days,” it said.