Editor’s Note
This article reports on a significant tariff reduction announced by former U.S. President Donald Trump following an agreement with Indian Prime Minister Narendra Modi. The note, which includes a reaction from industry stakeholders, highlights a key development in international trade policy.
Tariff Reduction Announced
Following an agreement with Prime Minister Narendra Modi, former US President Donald Trump has announced a significant reduction in tariffs on certain Indian goods, lowering the rate to 18%.
Industry Reaction
Industry representatives have acknowledged the new rate as a meaningful reduction. However, they emphasize that further easing of trade barriers is necessary to fully revive demand and stabilize exports.
“The new rate is a meaningful reduction, but further easing is necessary to fully revive demand and stabilize exports,” the industry says.