‘India to take view on reciprocal tariffs after finalisation of law by US’

New Delhi: India will take a view regarding the reciprocal tariffs announced by US President Donald Trump, after finalisation of the law by America pertaining to these import duties, an official said.

The official said though they are aware of the elements of the reciprocal tariff bill, but on what shape it will take once it became an Act, “we are not clear”.

“We do not know the contours of the reciprocal act... So we will take a call on that once that act comes into force,” the official said, when asked if India is planning to challenge the USA’s reciprocal tariffs in the World Trade Organisation (WTO).

International trade experts have opined that these duties “really shred” the WTO rule book.

The US has announced 25 per cent duty on steel and aluminium.

Another official explained that the reciprocal tariffs the US will impose is under a law they have introduced in their Congress and that the Bill is there with their select committee.

“We will see when it comes (into force),” the official said, adding that the commerce ministry is planning to hold stakeholder consultation with industry and “once tariffs are imposed, a cost benefit analysis will be done”.