India's Strategic Tariff Dance: Navigating US Duties Amid Global Trade Turbulence

Union Commerce Minister Piyush Goyal asserted that India's tariffs on the US aren't overly burdensome, as discussions with the US over trade practices continue. Goyal criticized China's unfair trade tactics while highlighting opportunities for India's growth through fair trade. He stressed the protection offered by India's tariffs amidst evolving US policies.

In a recent statement, Union Commerce Minister Piyush Goyal emphasized that India's applied tariffs on the US are not overly burdensome, standing at just 7-8%. This comes amidst ongoing trade negotiations between the two nations, with Goyal criticizing China's unfair trade practices.

Goyal underscored India's commitment to fostering trade partnerships with countries that uphold fair trade practices. While acknowledging the US tariffs, he explained that India's own tariffs serve as a safeguard against unfair trade and economies indulging in practices like dumping.

Highlighting the global trade dynamics, Goyal posited that the current economic turmoil could position India for growth through fair trade alliances, easing apprehensions about impacts on domestic growth due to ongoing US trade policy shifts.

(With inputs from agencies.)