US President Donald Trump has so far sent tariff letters to about 20 countries, including countries such as Japan, Korea, Bangladesh and South Africa. Now it is India’s turn. It is being told that the talks on the trade agreement between India and the US are almost final form, under which India can be imposed 20 percent tariffs.
India was imposed 26 percent tariff
According to a Bloomberg report, India can avoid this new wave of letters being sent to countries such as Vietnam, Laos and Myanmar. The Trump government of America has already announced to impose 50 percent tariffs on countries like Brazil and Myanmar and 20 percent on Vietnam and Philippines. According to the report, India is expected to impose less than 26 percent tariffs. Let us tell you that in April, the US had announced a 26 percent mutual tariff on India, which is half of 52 percent tariffs imposed on the US by India. Trump described it as a ‘discount tariff’ for India.
Will India be able to escape tariffs?
If this agreement is reached between India and the United States, India will be included in the list of countries with Britain who have escaped the tariff war of Trump due to this trade agreement. Trump had told NBC News earlier this week, “We are considering putting 15 to 20 percent tariffs on most countries that have not yet reached any agreement.” However, he also said, “We are closer to the agreement with India.”
