Indian Thought Latest News & Views
New York. Amid the ongoing talks between India and the US on a trade agreement, US President Donald Trump has given a big relief to India by adopting a soft stance. The Trump administration has postponed the decision to impose retaliatory tariffs (additional duty) on Indian goods till August 1. This decision has come just a day before the deadline of July 9, which has given a big relief to Indian exporters and both the countries have got additional time to finalize the trade agreement.
On Monday, the Trump administration sent ‘letters’ to many countries of the world informing them about the new tariffs, but India’s name was not included in this list. It is worth noting that on April 2, America had announced to impose an additional tariff of 26% on Indian products, which was postponed for 90 days. This period was ending on July 9, which has now been extended till August 1.
Experts have given a cautious response to this decision. International trade expert Vishwajit Dhar termed it a relief for India and said, I consider it a relief and this reaction has come due to India taking a tough stand on some issues. At the same time, Mumbai-based exporter Sharad Kumar Saraf termed President Trump’s decision as very unexpected and said that this relief is for a very short time and Indian exporters should look for new markets to increase exports.
Let us tell you that America has been India’s largest trading partner since the financial year 2021-22. In the financial year 2024-25, the bilateral trade of goods between the two countries reached US $ 131.84 billion, in which India had the upper hand.
Currently, the two countries are negotiating a bilateral trade agreement, the first phase of which is targeted to be completed by September-October this year. According to Indian officials, India has made its stand clear on the interim agreement and now the ball is in the US court.
