At Trump’s tariffs, the center of discussions on plans, suspended with exporters today; Piyush Goyal attends the chairperson meeting
Narendra Modi’s government will hold discussions with Indian exporters on Wednesday amid a 50% tariff on U.S. on Wednesday. At the meeting, to be chaired by Business and Industry Minister Piyush Goyal, a range of important aspects will be discussed, including key proposals and moratoriums.
The government has been constantly interacting with stakeholders to discuss the potential impact of U.S. tariffs, half of which came into effect last week.
The Centre has issued a series of announcements to support exporters in the country, including tariff revisions and specific steps to help facilitate business. These measures have reached amid the global trade challenge of the Trump 2.0 administration’s tough tariff policies.
Add Zee business as your preferred source
In addition, the union budget for the 2025-26th fiscal year also includes several reforms to the country’s customs tariff structure. Annual activities result in lower customs tariff rates for many industrial supplies. It also corrects the inverse structures of multiple categories.
The Center has already carried out major customs reforms by abolishing seven customs tariffs in addition to the seven customs tariffs removed in the previous budget cycle.
Please read also: SBI Research says
Indian exporters stare at 50% of Indian goods as trade negotiations fail
On August 27, the U.S. tariffs on 25% of India’s exports to the world’s largest economy came into effect, with a total tariff of 50% – so far, the highest tariffs under the Trump 2.0 administration.
Many economists and financial experts criticized Trump’s tariff policies, especially India. Read what American economist Richard Wolff said
India’s 25% U.S. tax is linked to Trump’s criticism of India’s oil trade with Russia. It affects a range of Indian goods, including textiles, gemstones and jewelry.
Meanwhile, India has been firmly opposed to U.S. criticism of Russian oil trade, defending its energy imports, and stressing the need for buying these purchases to achieve its economic stability.
Please read also: India – U.S. Trade Negotiations: U.S. Treasury Secretary reportedly called India “a bit stubborn”
