New Delhi, February 21. In a significant relief for global trade, the United States has slashed its tariffs to as low as 10 percent, a move experts hail as a game-changer for India and other emerging economies. Speaking at an event organized by the All India Management Association (AIMA), Vishal Kampani, Senior Vice President of AIMA and Vice Chairman & Managing Director of JM Financial Limited, described the decision as highly welcome.
The tariff reduction from the previous 25 percent will remain in effect for the next 150 days. ‘This is a very positive development for emerging markets,’ Kampani told IANS. ‘We were anticipating a drop to 18 percent, but 10 percent for the next 150 days is even better.’
He emphasized that uniform 10 percent tariffs across countries, including India, will restore normalcy to international trade disrupted by varying rates. ‘It brings everything back to how it was,’ he added, noting the step towards standardization.
However, Kampani urged caution. The US has multiple policy tools at its disposal, and internal conflicts could influence future decisions. Monitoring any potential reversals will be crucial.
The AIMA event, marking its 70th year, featured discussions on politics, economics, finance, and more. Kampani expressed delight in being part of the leadership team for this milestone conference, calling it exceptionally insightful.