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India has ‘enormously high’ tariffs: PM will have to address issue in US trip, top US aide says amid Trump’s trade war
Amid the trade war unleashed by the US, President Donald Trump's top economic adviser, Kevin Hassett, flagged India's high import tariffs, news portal CNBC-TV18 reported on Monday.
United States President Donald Trump's top economic adviser, Kevin Hassett, has flagged India's import tariffs as “enormously high” amid the trade war unleashed by the US, news portal CNBC-TV-18 reported on Monday, February 10.
Hassett focused on the topic of tariffs, and said this will be a major issue that Indian Prime Minister Narendra Modi will need to address during his upcoming visit to Washington, per the news report.
The economic adviser also highlighted that Trump's current trade policy is equivalent to those levied by other nations, as per the report.
"If they go down, we'll go down,” Hassett told the news portal. “Almost every trading partner has much higher tariffs than we do.”
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Earlier, Donald Trump also termed India as a “very big abuser” of tariffs. PM Narendra Modi, during his upcoming visit to the United States, is set to hold discussions on trade and tariffs, focusing on phasing out import duties.
“A more intense and continuing discussion on tariffs,” said Foreign Secretary Vikram Misri, acknowledging Trump’s criticism of India as a “tremendous tariff maker,” reported the news portal.
According to the news portal, Canada, Mexico, and the United Kingdom maintain tariffs similar to those of the United States, India's tariffs remain a "bone of contention".
“We are a very open economy,” said Hassett, highlighting that most US imports to India already face low tariffs, with 6,000 out of 8,400 tariff lines below 100 per cent.
In the Union Budget 2025 announcement, Finance Minister Nirmala Sitharaman reduced tariffs on certain US imports, including high-end motorcycles, benefiting companies like Harley-Davidson.
The finance minister also announced reduced customs duties on luxury goods like motorcycles, cars, and smartphone parts, with duties on fully imported motorcycles dropping from 50 per cent to 40 per cent.
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Business NewsEconomyIndia has ‘enormously high’ tariffs: PM will have to address issue in US trip, top US aide says amid Trump’s trade war
First Published:10 Feb 2025, 10:53 PM IST
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