By Admin 
US Tariff on Indian Goods: Trade deal has been done between India and America. Under this, the earlier reciprocal tariff of 25 percent imposed on the import of Indian goods in America has now been reduced to 18 percent. This will be implemented in the next 4-5 days.
On this, Commerce and Industry Minister Piyush Goyal said on Thursday that under the bilateral trade agreement, America has drastically reduced the tariff on Indian exports, after the signing of this joint statement between the two countries, it will be implemented ‘in the next 4-5 days’. He further said that India will cut back on American goods in mid-March.
Tariff will come directly from 50 to 18 percent
He further said, on the basis of that joint statement, the first phase of this partnership between us (America and India) will start. Immediately after the statement, through an executive order by US President Donald Trump, additional tariff on Indian exports to America will be reduced from 50 percent to 18 percent. America has currently imposed 50 percent tariff on India. Of these, 25 percent was imposed as reciprocal tariff and 25 percent as penalty for purchasing oil from Russia.
What did you say about the $500 billion investment in America?
Piyush Goyal also said that under the deal announced by Trump late on Monday night, India has not made any promise to invest in America. His clarification came after the statement of the White House spokesperson in which it was said that India will invest 500 billion dollars in America under the trade deal. His comment might have been due to some confusion because under the deal, India has agreed to buy only $500 billion worth of products from America. Goyal said that this purchase will happen in the next five years. While announcing the deal, Trump had said that India will buy energy, technology, agriculture, coal and many other products from America.
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