Union Commerce and Industry Minister Piyush Goyal. File.
| Photo Credit: ANI

We are “carefully examining” the implications of U,S. President Donald Trump’s tariff announcements, said the Department of Commerce on Thursday (April 3, 2025).

The U.S. President Donald Trump issued an Executive Order on reciprocal tariffs imposing additional ad-valorem duties ranging from 10% to 50% on imports from all trading partners. The baseline duty of 10% will be effective from April 05, 2025 and the remaining country specific additional ad-valorem duty will be effective from April 09, 2025. The additional duty on India as per the Annex I of the Executive Order is 27%, the Ministry explained in a press statement.

It is also engaging with all stakeholders, including Indian industry and exporters, taking feedback of their assessment of the tariffs and assessing the situation.

The Department is also studying the opportunities that may arise due to this new development in the U.S. trade policy.

It also said that discussions are ongoing between Indian and U.S. trade teams for the expeditious conclusion of a mutually beneficial, multi-sectoral Bilateral Trade Agreement (BTA).

The talks are focused on enabling both nations to grow trade, investments and technology transfers.

“We remain in touch with the Trump Administration on these issues and expect to take them forward in the coming days,” it said.