India agrees to cut down tarriffs on the US

The US President, Donald Trump, on Friday, claimed that India has agreed to cut down tariffs.

According to online media, the Times of India, Trump said, “India charges us massive tariffs. Massive. You cannot even sell anything in India…They have agreed, by the way, they want to cut their tariffs way down now because somebody is finally exposing them for what they have done.”

Earlier on Friday, the Ministry of External Affairs had addressed the tariff threat but made no comments on whether there was any decision on reducing the charges.

India has agreed to reduce tariffs on imports from the United States, specifically on bourbon imports, from 150% to 100%.

This move is expected to boost access to the Indian market for American whiskey exporters.

The reduction in tariffs is seen as a significant accomplishment for the US, as India is the world’s largest whiskey market.

However it is worth noting that the tariffs on other US goods remain unchaged.

In a related news, Indian exporters are also seeking tariff reductions on certain US goods to counter potential harm from US tariffs.

The US has announced plans to impose reciprocal tariffs on Indian imports, citing India’s high tariffs on US goods.

India is exporing ways to offset the impact of US tariffs, including strengthening regional trade alliances, finalizing free trade agreements, and boosting domestic manufacturing.

US Commerce Secretary Howard Lutnick on Friday said that India and the United States had a goal to come up with a great trade deal as India has leaned on the US with low tariffs, adding that had to change.

According to The Economic Times, Lutnick while speaking at the India Today conclave, said that the US tariffs are 80 years old and the time has come to change the industrial policy.

“It is now time for reciprocal policy and time to rethink the special relationship between India and the US,” Lutnik said.

He added that India also needed to step out of the model it has been following.

Lutnick said that the focus I on the bilateral conversation between India and the US, adding tat India had to bring down tariffs and protections.

He was quoted to have said, “Your protections are for the world but you need to bring it down for the US.

We need to have a marco-level trade agreement and not on just on certain products like bikes and bourbon. Modi can do things, he has a great relationship with Trump,”

Speaking of India’s high tariffs to protect the agricultural sector, Lutnick said the Indian government truly understands the government of the US.

He stated that the Indian market for agriculture needs to open up and cannot remain closed.

He noted that that India is the “I” in BRICS, a group aiming at replacing the Dollar as the currency of international exchange.

He said the tariffs would surely affect fair trade, but great trade relations come through dialogue.

Lutnick further said the US did not want India to get military supplies from Russia.

“America is the greatest military and industrial supplier and creator in the world. You would never choose France or UK. You would choose Russia which will take  away your freedom,” he said.

For Diaspora Digital Media Updates click on Whatsapp, or Telegram. For eyewitness accounts/ reports/ articles, write to: citizenreports@diasporadigitalmedia.com. Follow us on X (Fomerly Twitter) or Facebook