India may slap tariff countermeasures on select American commodities, a retaliation to Washington’s move to impose a steep 50% duty in June on steel, aluminium and their derivatives from India, people aware of the matter have said.
India may slap tariff countermeasures on select American commodities, a retaliation to Washington’s move(REUTERS).
“Washington is unwilling to address New Delhi’s concerns through talks, which leaves India with little option other than to retaliate,” one person said.
America exports over $45 billion worth of merchandise to the Indian market, while India – prior to the Trump administration’s wide variety of tariffs –exported $86 billion worth merchandise to US.
The escalating tariffs have effectively undermined bilateral trade negotiations, with India arguing that arm-twisting tactics make fair negotiations impossible.
The US also maintains a services trade surplus with India of $102 million in 2024, with total bilateral services trade reaching $83.4 billion.
US services exports to India totalled $41.8 billion, up 15.9% from 2023, while imports reached $41.6 billion, up 15.4%. »