India is cautiously optimistic about the USA’s recent announcement of imposing 26% reciprocal tariffs, viewing it as a ‘mixed bag’ rather than a ‘setback.’ The tariffs, which will come into effect on April 5 with a universal 10% rate on all imports, will see an additional 16% tariff from April 10. Despite this move, discussions on a bilateral trade agreement between India and the USA are ongoing, with both countries aiming to finalize the deal by fall. India’s stance on the tariffs reflects a nuanced approach to the evolving trade dynamics between the two nations.