Amid Trump tariffs, Centre to discuss schemes, moratorium with exporters today; Piyush Goyal to chair meeting

In the backdrop against the United States' 50 per cent tariff on Indian goods, the Narendra Modi government is set to engage in discussions with Indian exporters on Wednesday. In the meeting, to be chaired by Commerce and Industry Minister Piyush Goyal, a range of important aspects will be discussed, including key schemes and moratoria.

The government is continuously engaging with with stakeholders to discuss the potential impact of the American tariffs, half of which took effect last week. 

The Centre has already made a series of announcements to support the country's exporters, including duty revisions and specific steps to aid the ease of doing business. These measures come amid global trade challenges amid the Trump 2.0 administration's harsh tariff policy. 

Additionally, the Union Budget for the current financial year 2025-26 contained several reforms in the country's customs tariff structure. The annual event led to the reduction of customs tariff rates for a number of industrial goods. It also corrected inverted duty structures in several categories.

The Centre has already put in place a major customs reform by doing away with seven additional customs tariff rates for industrial goods, over and above the seven tariff rates removed in the previous budget cycle.

ALSO READ: 50% tariffs by US bad policy move, India must continue to protect its farmers, says SBI Research

Indian exporters stare at 50% American duty on Indian goods as trade talks fail

On August 27, the US' additional 25 per cent duty on Indian exports into the world's largest economy took effect, taking the total tariff to 50 per cent -- America's highest tariff under the Trump 2.0 administration so far.

Many economists and financial experts have criticised Trump's tariff policy, especially for India. Read what American economist Richard Wolff has said

The additional American levy of 25 per cent on India is in relation with Trump's criticism of India's oil trade with Russia. It impacts an array of Indian merchandise, including textiles, and gems and jewellery.

Meanwhile, India has been firm in its stand against America’s criticism of its Russian oil trade, defending its energy imports and stressing the necessity of these purchases for its economic stability.

ALSO READ: India-US Trade Talks: American Treasury Secretary reportedly calls India 'a bit recalcitrant'