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US administration led by newly-elected President Donald Trump recently imposed a 26 per cent tariff on India as a part of its reciprocal tariff policy that hit several countries across the globe.
US administration led by newly-elected President Donald Trump recently imposed a 26 per cent tariff on India as a part of its reciprocal tariff policy that hit several countries across the globe. Notably, India is one of the many countries, likely to be highly affected by Trump's tariffs.
Meanwhile, Tata Sons chairman N Chandrasekaran on Tuesday, i.e., April 8, said that he feels that the tariffs imposed on India by the US is not going to zero, rather some part of it will remain in effect.
"I personally believe it (tariffs) is not going to go back to zero because once something is announced, some part of it will stay," he said, speaking at an event in Mumbai late evening, as reported by PTI.
"..where it settles, whether it settles uniformly across countries, or it all gets solved bilaterally only, that we will see," he added.
Negotiations on amid trade war
Donald Trump-led administration announced reciprocal tariff policies on April 2, sparking a global trade war. Meanwhile, the US administration said that negotiations are underway with 70 trading partners, aiming to agree on a tailor-made deal with every country and not an off-the-rack template for all.
Furthermore, White House Spokesperson Karoline Levitt stated that the reciprocal tariffs, “will continue to go in effect as these deals are negotiated”.
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