New Delhi, 10 April (IANS). Temporary relief on the US reciperochl Tariff Front has allowed businesses and India to stabilize and optimize the supply chain. Industry experts said on Thursday that this has also given policy makers an opportunity to work towards more sustainable trade agreements.
US President Donald Trump has announced a low rate of 10 percent for 90 days in reciperochl tariff for business partner countries who have not retaliated by imposing high fees on American goods, such as India. At the same time, the fees on China have been increased to 125 percent for retaliation.
SEMI IESA president Ashok Chandak said, “The 90-day break of US President Trump on tariffs for India and many other countries reflects ‘rebuilding’ strategy instead of a fundamental policy change. It is a welcome development from American consumers and global geopolitical perspectives.”
He said that this ban has opened the way for re -evaluation of global trade dynamics, but stress and uncertainty on most American imports remain 10 percent baseline tariffs and 90 days later tariffs.
The move to install country-specific tariffs is an important development in terms of global trade scenario.
Prashant Bhojwani, partner of BDO India’s tax and regulatory services, said, “This is beyond the impact tax and it can cause disruption in the supply chain, business model. Possible existing investment and business plans may also be interrupted.”
He said, “In the short term, there may be a possibility of recession in international trade, as the growing ‘consumer price’ affects demand and consumption patterns. In this context, businesses will need to re -evaluate the supply chain and business models to make cost efficiency and re -prepare them if needed.”
Meanwhile, Union Commerce and Industry Minister Piyush Goyal discussed with the Export Promotion Councils and Industry Bodies in view of the emerging trade scenario.
The Union Minister appreciated the exporters and industry for acquiring the highest exports of more than $ 820 billion in FY 2024-25, which is an increase of about 6 percent compared to the previous financial year.
-IANS
SKT/ABM
