Goldman Sachs said that the “reciprocal tariff” plan is expected to impact India in three ways: a) Country-level reciprocity, b) Product-level reciprocity, and c) Reciprocity including non-tariff barriers.

President Trump signed an order to implement reciprocal tariffs to counteract high tariffs and trade barriers by other nations, particularly targeting countries like India. The tariffs, expected by April,

India had a trade surplus with the US, exporting $45.7 billion more than it imported, highlighting the significance of this trading relationship.

President Donald Trump’s shift in policy to reciprocal tariffs is a relief to markets, U.S. consumers and most trading partners.

Here’s what you need to know about reciprocal tariffs and who might be impacted by Trump’s plan. Reciprocal tariffs refer to tariffs—the taxes charged on imported goods—the U.S. government plans to levy against global trading partners that are equal to the existing tariffs foreign countries have set against American goods.

In a recent speech at Washington DC, US President Donald Trump said that he plans to impose reciprocal tariff on India soon. The Republican leader said that US was getting ready to do it earlier, but plans were paused due to the Covid-19 pandemic.

Hours before his bilateral meeting with PM Modi, Donald Trump had announced that the US would impose reciprocal tariffs on trading partners.