Zero duty regime: In the Indo-US tariff deal, the US wants zero duty regime from India to make an easy entry of cars like Tesla in India. In such a situation, what can happen in the tariff deal between India and America, how much relief will be given and how can this deal make equation between the two countries. let’s watch.
US President Donald Trump has announced to impose reciperoot tariffs on all countries including India from April 2. That is, as much tax will be imposed on the items to be imported from the US. America will also put the same duty on the goods imported from that country. On the other hand, under the Indo-US trade deal, America is pressurizing India to accept the condition of zero duty. Experts say that there is no clarity about which tariff will be imposed on India. As far as the effect of the reciperook tariff is concerned, it can have an impact of about 5 percent on India’s trade. Therefore, India should not accept the demand for zero duty on auto components, automobiles and agri products.
Donald Trump has said on several forums that India imposes more than 100 percent tariffs from America. However, India has cut the tariffs of several items imported from the US. In which the duty on borbon whiskey has been reduced from 150 per cent to 70 per cent, Harley Davidson has been reduced from 50 per cent to 30 per cent and duty on luxury cars from 125 per cent to 70 per cent. At the same time, the US imposes a tariff from 0.25 per cent to 5 per cent on exports of seafoods, fish, meat, spices and Basmati Rice. Whereas there are tariffs from 30 per cent to 120 per cent on agri products to be imported from the US like apple, almonds, walnuts, cherry and cranberries. According to sources, India can also reduce duty on America’s Agri product.
Commerce Minister Piyush Goyal is currently on a visit to Washington where he has held a high -level meeting with USTR i.e. United States Trade Representative and American Commerce. It is believed that after this, trade negotiation will start at the Officers level. Under this, a target is to carry bilateral trade to $ 500 billion by 2030. If zero duty agrees under the Indo-Rus trade deal, then the current tariff war can be the end.