
$23 Bn US Imports Open for Tariff Cut; Textiles, G&J, Footwear Accept Cut
Deccan ChronicleChennai: India is open to reduction of tariffs on more than half of US imports worth $23 billion in the first phase of a trade deal. According to Reuters, India is open to reducing tariffs on 55 per cent of US imports that are now subject to tariffs ranging from 5 per cent to 30 per cent. According to GJEPC, it has recommended reduction of duties on worked and unworked pearls from 5-10 per cent to zero per cent, precious and semi-precious stone from 5 per cent to 2.5 per cent, worked lab-grown diamonds 5 per cent to 2.5 per cent, 1 per cent reduction in gold and silver bars and polished diamonds 5 per cent to 2.5 per cent. Meanwhile, the 6 per cent equalization levy on the online advertisements of big tech companies like Google, Meta and X is being abolished from April 1, 2025. India had earlier withdrawn the 2 per cent equalization levy on e-commerce firms.
History of this topic

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Hindustan Times
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India to cut levies on more than half of US imports as Trump's reciprocal tariffs deadline nears: Report
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India Considers Lowering Taxes On US Imports, As It Tries To Manage Impact Of Reciprocal Tariffs: Report
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India open to tariff cuts on US imports worth $23 billion: Report
India Today
Donald Trump expects India to cut tariffs on US products, but ‘will charge them same tariffs from April 2’
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India’s exports may face 3-3.5% hit from US tariffs, but trade diversification may cushion impact: SBI Research
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New Indian Express
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New Indian Express
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India's small exporters seek import duty cuts to counter US steel, aluminium tariffs
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Think different: Consider a smartphone tariff cut to sustain an Apple-led export boom
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‘India, U.S. in talks to mitigate impact of reciprocal tariffs’
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India seeks mutual tariff reductions from US amid trade tensions
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Trump’s reciprocal tariffs: Time for India to rethink its trade policy
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Tariffs to be focus of PM Modi's US trip
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India May Cut Tariffs on 30 Items: Nomura
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Indian steelmakers’ SOS to govt: intervene against Trump’s tariffs
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U.S. tariffs won’t impact Indian steel industry much: Steel Secretary
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