New Delhi, 29 March

Fitch Ratings said in a report that US trading partners are at risk due to the Trump administration's imminent reciprocity plans. The US administration's tariff review, effective from 2 April, is expected to result in an increase in tariff rates.

"There is a high risk that tariffs will implicate many US trading partners, particularly those emerging market economies where tariff rates faced by US exporters are higher than those imposed on US imports from these countries," the global agency said.

Emerging market economies such as India, Brazil, Thailand, Malaysia, South Africa, Turkey, Vietnam and Indonesia impose tariffs on exports to the US significantly higher than those imposed by the US on imports from these countries.

Since taking office for his second term, President Trump has reiterated his stance on tariff reciprocity, stressing that the United States will match tariffs imposed by other countries, including India, to ensure fair trade.

However, the US and India are currently negotiating a broad-based tradedeal that takes into account the entire trade relationship rather than individual products.