BlockBeats News, March 20th. Despite Indian officials' eagerness to appease the United States by reducing trade barriers, U.S. President Trump announced that India will be subject to retaliatory tariffs starting from April 2nd. Trump stated in an interview on Wednesday local time that India is "one of the highest taxing nations in the world." "I think they will probably reduce substantially, but on April 2nd, we will collect the same amount of tariffs from them."
Although Trump has repeatedly stated that India will not be exempt from the tariffs on April 2nd, Indian officials are more optimistic. India's Commerce Minister Goyal visited the United States earlier this month and stated that he had held "forward-looking discussions" with Trump officials on a trade deal, with both sides aiming to reach an agreement by the fall of this year. (FXStreet)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.