India’s Chief Economic Adviser (CEA) V Anantha Nageswaran said that the United States may remove 25% additional tariffs on India after November 30. The CEA hinted that easing tariffs would help normalise trade between the two nations.
The PIB in West Bengal posted on X, “Speaking at the 125th anniversary celebration of @BharatChamber in Kolkata, Chief Economic Advisor Dr. V Anantha Nageswaran expressed confidence that the issue of high US tariffs will be mutually resolved in 8–10 weeks. He also praised India’s overall economic performance.”
Speaking at the 125th anniversary celebration of @BharatChamber in Kolkata, chief economic advisor Dr V Anantha Nageswaran expressed confidence that the issue of high US tariffs will be mutually resolved in 8-10 weeks. He also praised India's overall economic performance. pic.twitter.com/rTpWbR3vSI
— PIB in West Bengal (@PIBKolkata) September 18, 2025
CEA said, “All of us are already at work, and I will take some time to talk about the tariff here. Yes, the original reciprocal tariff of 25 per cent plus the penal tariff of 25 per cent both were not anticipated. I still believe that geopolitical circumstances may have led to the second 25 per cent tariff, but considering recent developments in the last couple of weeks and so on, I do believe that and I have no particular reason to say so it is my intuition that I do believe the penal tariff will not be there after November 30.”
“I do believe that there will be a resolution in the next couple of months on the penal tariff and hopefully on the reciprocal tariffs,” he said mentioning the continued talks between India and US.
He highlighted India’s export growth, currently at USD 850 billion annually, is on track to reach USD 1 trillion, representing 25 per cent of GDP, indicating a healthy, open economy.
Trump had invoked the International Emergency Economic Powers Act (IEEPA), a 1977 law crafted for sanctions and financial controls in times of foreign emergencies, to impose reciprocal tariffs on dozens of countries. India was slapped with 25 per cent tariffs, but the rate of tariffs was increased to 50 per cent.
The 50 per cent tariffs on imports from India to the United States came into effect on Wednesday.
The higher duties are applicable to all Indian products that are either entered for consumption in the U.S. or withdrawn from warehouses for consumption. With this, the 50 per cent tariffs on India’s imports to the U.S. are now in effect.
