India Dodges Trump's Trade Tariffs, Takes Proactive Steps to Safeguard Economy

India has emerged unscathed from Donald Trump's latest round of trade tariffs, which targeted China (10%), Mexico (25%), and Canada (25%) effective February 1, 2025. While India contributes only 3.2% to America's trade deficit, the country isn't taking chances. Finance Secretary Tuhin Kanta Pandey announced strategic tariff cuts, reducing average basic customs duties to 11% from 13%, particularly on essential goods and raw materials. The government's proactive approach includes slashing motorcycle import duties and implementing measures to boost domestic manufacturing, signaling India's commitment to maintaining positive trade relations with the US.
Source: The Economic Times