The department of commerce is assessing potential opportunities emerging from the US government’s decision to impose additional tariffs on imports, the government said Thursday.

The commerce department has also initiated consultations with the Indian industry and exporters to gauge the impact of the Trump administration’s new Executive Order on Reciprocal Tariffs.

The development comes as India and the US continue discussions on a broader trade agreement.

The US has announced 27 per cent reciprocal tariffs on India, saying New Delhi imposes high import duties on American goods, as the Donald Trump administration aims to reduce the country’s trade deficit and boost manufacturing.

The tariffs will be implemented from April 9.

On February 13, Prime Minister Narendra Modi and President Donald Trump announced ‘Mission 500’, a plan to expand bilateral trade to $500 billion by 2030.

Talks between both sides are ongoing, focusing on supply chain integration, investments, and technology transfers.

Despite the tariff hikes, India remains engaged with the Trump administration to strengthen trade ties and navigate the evolving economic landscape, informed the commerce ministry.

But experts say that India is well-placed than its competitors, who also face increased levies.

Under the reciprocal tariffs, duties ranging from 10 per cent to 50 per cent will be applied to imports from all trading partners.

A baseline duty of 10 per cent will take effect on April 5.

The reciprocal tariffs have been announced in about 60 countries.