Trade Tensions Rise: India's Watch on US Tariff Announcements

India sets up a control room to closely monitor US President Donald Trump's announcements on reciprocal tariffs. These tariffs could impact Indian exports, with concerns over competitiveness due to high duties. Both nations are negotiating to potentially mitigate impacts with a bilateral trade agreement aimed at doubling trade by 2030.

In response to looming tariff announcements by US President Donald Trump, the Indian government has established a control room to monitor developments closely. Senior officials from key ministries, including commerce and industry, will maintain a vigilant watch on any updates.

President Trump has termed the tariff day as 'Liberation Day' for the US, with the announcements set to unfold early Thursday morning, India time. Concerns are mounting among Indian exporters about potential competitiveness issues in global markets due to the US's reciprocal tariffs.

Despite challenges, there is hope that ongoing negotiations for a bilateral trade agreement might influence US tariff decisions, potentially fostering a more favorable trade environment. The goal is to conclude the first phase of this agreement by 2025, targeting a significant boost in bilateral trade by 2030.

(With inputs from agencies.)