Mar 07, 2025 08:54 PM IST
Howard Lutnick said that India should consider opening up sensitive sectors like agriculture, which it has traditionally protected to safeguard small farmers.
US Commerce Secretary Howard Lutnick on Friday said India should bring down its high tariffs for the United States, as Washington aims to pursue “something grand” in a bilateral trade deal between the two countries.
In an interview with India Today TV, Lutnick said that India’s tariffs, among the highest globally, should be reconsidered in light of the “special relationship” with the United States.
His statement comes just weeks before US President Donald Trump’s planned reciprocal tariffs, set to take effect in early April, which have raised concerns among exporters across industries such as automobiles and agriculture.
“We would like to focus on bilateral conversation just between India and the United States, bring down the tariff levels that India has, that protects some of its areas,” Lutnick said.
Lutnick suggested that India should consider opening up sensitive sectors like agriculture, which it has traditionally protected to safeguard small farmers. He proposed that a deal could be crafted with specific quotas and limits to balance both sides’ interests.
Following a meeting between US President Donald Trump and Indian Prime Minister Narendra Modi last month, both countries agreed to resolve tariff disputes and work on the first phase of a trade deal by fall 2025, with a target of achieving $500 billion in bilateral trade by 2030.
Union Minister Piyush Goyal, during his nearly week-long trip to the US, met with Lutnick on Tuesday to continue discussions on advancing trade talks.
US President Donald Trump on Wednesday reiterated that reciprocal tariffs would come into effect from April 2 against all countries that charge high taxes from the country.
Trump said that the strategy aims to address unfair trade practices, including non-monetary barriers, subsidies, and VAT systems.
He said the approach is designed to encourage foreign nations to either lower or eliminate tariffs on US products or establish manufacturing operations in the US, ultimately contributing to its economic growth.
With Reuters inputs
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