Govt view on tariffs: No instant reaction, patience key as we negotiate trade deal

AS THE 10 per cent 'baseline' US reciprocal tariffs took effect Saturday, a top government official said India holds a comparative edge over other manufacturing competitors and also benefits from a first-mover advantage, having initiated trade negotiations with the US early on. The official said that overall demand in the US may be affected by the new tariffs, but said India's low manufacturing costs and lower commodity prices currently work in the country's favour. While the 10 per cent baseline tariff took effect Saturday, individual tariffs on other countries, including India, are set to be effective from April 9. US…