Trump has delayed installing high tariffs on goods coming from 14 countries including Japan and South Korea on the goods coming in the US. The development took place at a time when the 90 -day ban on some of the most strict import taxes imposed by the White House was about to end this week. Trump reiterated his warning that 25% tariffs can still be imposed on goods coming from Japan and South Korea. He also shared letters written to leaders of several countries, stating that the new tariffs would be effective from August 1. The high tariffs were scheduled to begin on July 9, but were already stopped during an attempt by US officials to make a trade agreement.
America extended counter -duty suspension till August 1
Indian exporters will get relief from extending the US counter -duty suspension to August 1. At the same time, India and America will get additional time to resolve the pending issues to finalize the interim trade agreement. The Trump administration on Monday sent ‘letters’ to various countries that details the fees levied by the US on the products of those countries. However, India was not included in these countries. Bangladesh, Bosnia & Hergegovina, Cambodia, Indonesia, Japan, Kazakhstan, Lao People’s Democratic Republic, Malaysia, Serbia, South Africa, South Korea, Thailand and Tunisia have been sent letters signed by Trump.
Indian exporters will get relief
The President of the US has extended the period of postponing the extended fees on several other countries in a separate executive order. The 90 -day suspension at the fee was to end on July 9. Commenting on the decision, exporters said that postponing counter -duty from July to August 1 reflects the US’s desire to create a constructive association with its business partners. Ajay Sahai, Director General of the Indian Export Organization Federation (Fio), said, “This provides an extended opportunity for dialogue, which can help our negotiaters resolve the remaining controversial issues.”
He said that about 12 countries come under the radius in the proposed fee. However, if India finalizes the BTA (bilateral trade agreement) on at least goods with the US by the end of this month, then it will be comparatively more profitable. International business expert Vishwajit Dhar said that it is a relief for India.
The response came due to India taking a tough stance on some issues
He said, “I consider it a matter of relief and this response came due to India taking a tough stance on some issues.” “Federation of Indian Export Organization ‘(Fio) President and Ludhiana -based engineering exporter said that although this is a small relief ..” We expect more. ” Donald Trump is “very unexpected” person.
Saraf said, “The duration of fee suspension is very short. Indian exporters should explore new markets to increase exports. ”India and the United States are interacting on bilateral trade agreement. He has aimed to complete the first phase by this year’s autumn (September-October).
According to officials, India has already made its stand clear to the US officials on the interim trade agreement and now the US has to decide. America has been India’s largest trading partner since FY 2021-22. The bilateral trade of goods stood at US $ 131.84 billion in 2024–25. This includes exports of $ 86.51 billion, import of $ 45.33 billion and trade surplus of $ 41.18 billion.