Trump: India to Face Retaliatory Tariffs on April 2

BlockBeats News, March 20th. Despite Indian officials' eagerness to appease the United States by reducing trade barriers, U.S. President Trump announced that India will be subject to retaliatory tariffs starting from April 2nd. Trump stated in an interview on Wednesday local time that India is "one of the highest taxing nations in the world." "I think they will probably reduce substantially, but on April 2nd, we will collect the same amount of tariffs from them."

Although Trump has repeatedly stated that India will not be exempt from the tariffs on April 2nd, Indian officials are more optimistic. India's Commerce Minister Goyal visited the United States earlier this month and stated that he had held "forward-looking discussions" with Trump officials on a trade deal, with both sides aiming to reach an agreement by the fall of this year. (FXStreet)