U.S. President Donald Trump, right, sits with Indian Prime Minister Narendra Modi at the White House on Feb. 13. © Reuters
RYOHEI YASOSHIMA
WASHINGTON -- With U.S. President Donald Trump set to announce reciprocal tariffs this coming Wednesday, India and the European Union are considering steps to lower trade barriers. But such moves are not guaranteed to lead to relief.
The reciprocal tariffs are designed to increase American tariffs to the same levels as those of trading partners. In addition to the target countries' tariffs, the Trump administration is expected to consider nontariff barriers, tax rates and other policies when determining reciprocal tariff rates.