US Tariffs on Indian Goods: A Temporary Setback?

Vimal Pruthi, Partner, International Trade at EY India, commented on Friday on the recent imposition of a 25 percent tariff on Indian goods by the US administration. He described the move as “unfortunate.”

However, Pruthi expressed optimism, suggesting the tariffs are likely to be temporary. This optimism stems from ongoing negotiations between India and the US for a Bilateral Trade Agreement (BTA).

The successful conclusion of the BTA is expected to resolve the tariff issue and pave the way for enhanced trade relations between the two nations.

This development holds significant implications for Indian exporters, particularly in sectors heavily impacted by the tariffs. The speed of the BTA negotiations will directly influence the economic recovery of these sectors.