BIG BREAKING: Centre Forms Panel On US Tariffs, Nirmala Sitharaman, S Jaishankar Among Members

New Delhi: A day after US President Donald Trump imposed 26 per cent ‘discounted reciprocal tariffs’ on India, government has formed a panel regarding the issue. The panel comprises of Finance Minister Nirmala Sitharaman , Foreign Minister S Jaishankar, Union Minister Shivraj Chouhan and Minister Piyush Goyal. The panel met yesterday and today morning to look into the matter. 

The government is closely watching the impact of new tariffs announced by Trump. The US has decided to impose a 10% tariff on most imported goods starting Saturday and a 25% duty on all foreign-made automobiles, which will be kicked in from Thursday. This decision is expected to affect India’s exports, and officials are assessing the situation.  

READ MORE: Donald Trump’s Tariffs Spook Wall Street, US Markets Witness Worst Crash Since COVID | Republic World

India to Face 27% Additional Duty  

The Ministry of Commerce and Industry has confirmed on Thursday that Indian exports to the US will now face an additional 27% duty under the new trade rules. The ministry has begun discussions with industry representatives, exporters, and other stakeholders to understand the impact and explore possible solutions.  

Exporters in industries like textiles, automobiles, and engineering goods are preparing for possible disruptions in trade. Many are concerned that higher tariffs could reduce demand for Indian products in the US market.  

The Commerce Ministry has assured that it will take necessary steps to protect India’s trade interests. Regular discussions with industry leaders will continue as the government monitors the situation closely.