Centre reviewing list of US goods exempted from tariffs? MEA issues statement

The Ministry of External Affairs (MEA) has refuted media reports claiming that India is reviewing the list of US goods that are exempted from tariffs. The reports surfaced as India is currently weighing its response after United States President Donald Trump imposed 25 percent tariff on goods coming in from India. The fact-check unit of the ministry rejected the claims in a post on X, also dismissing rumours that India is reviewing its bilateral agreements with the US.

India, US iron out differences
Reports say that India and the US are currently engaged in efforts to establish a mutually beneficial trade deal. "We are engaged through virtual mode as of date and likely to iron out remaining differences when the American negotiating team visits India for the sixth physical round this month," a source close to the developments told Hindustan Times. A delegation from the US is expected to reach New Delhi on August 24 for in-person discussions.

Trump's tariff bombshell on India
Trump last week imposed a 25 percent tariff on all Indian goods entering the US. The tariff came into effect from August 1 and has been levied along with a penalty for India buying oil and military equipment from Russia amid its war with Ukraine. "While India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country," Trump wrote on social media. In a separate post, he described India and Russia as "dead economies."