ANI
30 Jul 2025, 16:37 GMT+10
New Delhi [India], July 30 (ANI): If US President Donald Trump imposes 20-25 per cent tariffs on India, as he threatened last evening, it will have a varied impact on different sectors, noted the founder of the Global Trade Research Initiative, Ajay Srivastava.
In an exclusive interaction with ANI, Srivastava stated that the sector wise impact of the US reciprocal tariffs will be worth watching, and the impact of the trade tariffs on other countries will also determine the ultimate fall of tariffs on India.
Earlier on Tuesday, just days ahead of the self-imposed August 1 deadline date for tariffs to come into effect, US President Donald Trump stated that the India-US trade deal was 'working out very well' but hinted at a 20 per cent to 25 per cent tariff on New Delhi.
'Only on August 1, when the US will be announcing such punitive tariffs on other countries, we'll come to know whether they are charging more or less on us. Suppose he is charging 40% in some country, then we say 25% is great for us,' Shrivastava said.
He added, 'Second is that sector-wise, for example, some sectors like our top exports to the US is pharmaceuticals, medicines, so Europe will be paying 15%, but European medicines are expensive, high-end proprietary medicines. We are into generics. So if we are paying 25%, I don't think much of the generic market exports to India, exports to the US from India will be impacted.'
He added for 'Smartphones, only two countries export to US especially the iPhones, China and India. So if China is paying 30% duty, India paying 25% duty, I don't think any impact will be there. And then petroleum products, we export about USD 4 billion. There there are no duties in the US announced so far on this. So with the certainty we can talk about this after August 1.'
Speaking on the possible dateline of announcement of trade deal with India, Srivastava explained that the US is aware that India has already offered access to nearly all of its industrial products, which make up 95 per cent of US exports to India -- a significant gesture that should satisfy American interests.
However, he noted that India cannot open up its agriculture and dairy sectors due to domestic sensitivities attached to the sector.
The dilemma for the US, according to Srivastava, is that while it understands India's position, announcing a trade deal without including agriculture could set a precedent. Other countries like Japan or members of the European Union -- traditionally protective of their own agricultural sectors -- might then demand similar exemptions.
Srivastava noted this concern could be a key reason why President Trump may have held back from finalising a trade agreement with India.
Going further, Srivastava refuted the fact that India-UK FTA has set a benchmark for US, adding that India properly negotiated FTA where 26 subjects were negotiated at length which is not the case with the US. (ANI)
Get a daily dose of Russia Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Russia Herald.
More InformationFRANKFURT, Germany: A major trade agreement between the United States and the European Union has averted an immediate escalation in...
NEW YORK, New York - U.S. stocks fell Tuesday after the markets' recent heady gains, as profit-takers moved in. Uppermost in investors...
BRUSSELS, Belgium: Meta Platforms has announced it will stop running political, electoral, and social issue advertisements on its platforms...
NEW YORK CITY, New York: Marc Jacobs, once a crown jewel in LVMH's fashion portfolio, may soon find a new home. The French luxury conglomerate...
SAN FRANCISCO, California: A veteran-led startup that's rethinking how submarines gather intelligence just secured its first round...
NEW YORK, New York - U.S. stock markets made little headway Monday, despite the trade deal negotiated by U.S. President Donald Trump...
GENEVA, Switzerland: Health authorities are facing a resurgence of the mosquito-borne chikungunya virus, with new outbreaks emerging...
New Delhi [India], July 30 (ANI): Congress President Mallikarjun Kharge on Wednesday said that the Centre does not have the courage...
New Delhi [India], July 30 (ANI): If US President Donald Trump imposes 20-25 per cent tariffs on India, as he threatened last evening,...
London [UK], July 30 (ANI): The leader and spokesperson of the United Kashmir People's National Party (UKPNP) examined recent events...
New Delhi [India], July 30 (ANI): Union Minister Giriraj Singh criticised Lok Sabha Leader of Opposition Rahul Gandhi over his remarks...
New Delhi [India], July 30 (ANI): External Affairs Minister S Jaishankar on Wednesday hit out at the Opposition benches in Parliament,...
