Vishakapatnam : Finance Minister Nirmala Sitharaman addressed concerns regarding the United States’ proposed reciprocal tariffs during a post-budget interaction in Visakhapatnam. She emphasized that the Indian government is closely monitoring the situation and is actively engaged in discussions to protect the nation’s economic interests.
“The tariffs being planned by the US will have an impact on India,” Sitharaman stated. “Commerce Minister Piyush Goyal is currently holding discussions with the Trump administration on the matter.”
The Finance Minister underscored the legitimacy of tariffs as instruments of trade policy, asserting that India’s current tariff structure aligns with World Trade Organization (WTO) norms. “What prevails today as tariffs are to protect our own industry. Our industry is developing, and tariffs are consistent with WTO norms,” she noted.
Sitharaman also highlighted the importance of the ongoing negotiations led by Commerce Minister Goyal in the United States. “We will have to see how the Commerce Ministry handles negotiations with the US to ensure that India’s interests are well-represented,” she remarked.
The backdrop to these discussions includes President Donald Trump’s recent announcement of implementing reciprocal tariffs starting April 2. This policy aims to address perceived unfair trade practices by imposing equivalent tariffs on countries that levy high taxes on American goods.
The Indian government remains vigilant as these developments unfold, with a focus on safeguarding the nation’s export sectors and maintaining robust trade relations with the United States.
Dhanya Reddy S
Alma Media School Student
