00:00Remember Donald Trump on 2nd of April said to impose reciprocal tariffs in the next few hours as the White House has confirmed new tariffs are set to begin the world is on tetherhooks every country right now would be watching and waiting about what kind of reciprocal tariff does their country get and any sort of negotiations or talks like that India has had will it bring certain relief or an exemption here Donald Trump remember had said India likely to reduce the tariffs
00:30Israel has cancelled custom duties on American goods ahead of tariffs Donald Trump has made this big remark on India saying India likely to reduce tariffs remember already in our budget this time with the kind of import duties on automobiles had sort of sent out a message to American goods as well let's listen in
00:49My understanding is that the tariff announcement will come tomorrow they will be effective immediately and the president has been teasing this for quite some time as you know
00:59The president's historic action tomorrow will improve American competitiveness in every area of industry, reduce our massive trade deficits and ultimately protect our economic and national security
01:12President Trump's economic vision is rooted in common sense America will offer companies the lowest taxes, energy costs, regulations if they make their products right here in the United States and hire American workers for the job
01:26It's simple if you make your product in America you will pay no tariffs
01:32And I think a lot of them will drop their tariffs because you know they've been unfairly tariffing the United States for years and if you look at the European Union on cars the European Union already dropped their tariff down to two and a half percent it was announced a couple of days ago
01:48which is what the United States which is a very small tariff the United States charged very little
01:55and a lot of I think I heard that India just a little while ago is going to be dropping its
02:00tariffs very substantially and I said why didn't somebody do this a long time ago
02:04a lot of countries are going to be dropping their tariffs
02:09India Today Global Shashank Mattu is joining me this morning on the first up Shashank good morning
02:13so of course India is eagerly waiting and watching as well tell me more about
02:18the moments ahead of this reciprocal tariff
02:21well absolutely right India is waiting and watching because we don't know what the complexion
02:26of these tariffs is going to be at this point in time we don't know whether it's going to
02:29be product specific tariffs whether all imports into the United States are going to be hit are
02:33they going to be country specific tariffs the response of the Indian government will have to
02:38depend on that exactly at this point in time we know for a fact that the commerce ministry
02:42and the government is taking a wait-and-watch approach to see what exactly the tariffs will
02:47be before there is some retaliation they want there is for example a scenario where if there
02:52are product specific tariffs India could actually benefit because its products will be more
02:56competitive than other global international players but of course in other segments there's
03:00a broadly more generalized tariff that could of course hurt Indian exports but at the same time
03:04India has a parallel process going on to negotiate a treaty agreement to the United States to bring
03:09tariffs down that's what President Trump was was referring to which will over the long term
03:13ensure that these trade frictions don't exist between India and America so for now
03:16the Indian government's view is wait watch assess keep tracking all the latest on this
03:21Shashank thank you very much for now next 24 hours stay tuned what does the White House
03:27in and America specifically Donald Trump deciding what to do with the reciprocal
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