Opposition MPs in the Rajya Sabha raised concerns about the "tariff war" after U.S. President Trump’s recent tariff announcements.
Congress MP P. Chidambaram urged the Centre to clarify India’s response and consult the Opposition on the matter.
Chidambaram warned that a tariff war could escalate into a global trade war, harming the world economy.
Nirmala Sitharaman explained that recent customs duty reductions were not a response to Trump's tariffs but were aimed at helping small and medium industries by reducing the cost of imported goods.
Sitharaman highlighted the removal of 84 tariff lines and the rationalization of customs duties,
including the removal of tariffs on 35 additional capital goods related to electric vehicle (EV) battery and 28 additional capital goods for mobile phone battery manufacturing.
She also mentioned the full exemption of customs duties on Cobalt powder, lithium iron battery scrap, lead, zinc, and 12 other critical minerals to support key industries.
These measures are part of India’s long-term strategy to promote domestic manufacturing and exports, and not a direct response to global tariff changes.
COMMENTS