New Delhi, February 3 (ANI) — Foreign affairs expert Robinder Sachdev welcomed a US-India agreement that cuts US tariffs on India from 50% to 18%, calling the move positive for India’s economy and employment. Sachdev noted that, by his estimate, each 1 percentage point of US tariff corresponds to roughly $1 billion in lost Indian exports and about 100,000 jobs. “If the 50% tariff had remained in place for a year, India would have lost around $50 billion in exports to the United States and about 50 lakh (5 million) jobs,” he said, adding that even more conservative estimates still imply substantial job losses.
Sachdev described the deal as welcome news for many Indian households and said it provides greater predictability and stability for bilateral trade and strategic ties going forward. The agreement also places India at a lower tariff rate than Pakistan; an Executive Order issued by US President Donald Trump on July 31, 2025, set reciprocal tariff rates for Pakistan at 19%.
External Affairs Minister S. Jaishankar is due to meet US Secretary of State Marco Rubio at the State Department on Tuesday at 3:30 pm (US local time). Jaishankar is on a three-day visit to Washington to attend the inaugural Critical Minerals Ministerial on February 4. The US Department of State said Secretary Rubio will convene partners to strengthen cooperation on critical mineral supply chains, emphasizing international collaboration to secure resilient supply chains crucial for economic and national security, technological leadership, and the energy transition. Jaishankar also welcomed the recent India-US trade announcements. (ANI)
This report was sourced from a syndicated feed and is published as received.
