On Thursday, US President Donald Trump’s announcement of 25% of additional tariffs on India has created a new movement in business relations between the two countries. Even before this decision, Trump had imposed 25 percent tariff which has come into force from 7 August. That is, Trump has now announced a total of 50 percent tariff on India. After this decision, the Government of India has called it ‘unfair and unjust’, while a strong response has also come from Prime Minister Narendra Modi.
India immediately responded after the announcement of additional tariffs
The Indian Foreign Ministry responded shortly after the US announcement of 25 percent additional tariff on India on Thursday. In this, the Ministry said that we have already expressed our clear stand on these subjects- including India’s oil imports are completely market based, and its purpose is to ensure India’s 1.4 billion energy security. In such a situation, it is very unfortunate that the US has chosen the way to impose additional fees on India, while similar policies are also adopting many other countries keeping in mind their national interests. We reiterate that this step taken by the US is inappropriate, unjust and irrational. India will take all necessary steps to protect its national interests.
PM Modi said- India will not compromise on the interests of farmers
MS on Thursday after the announcement of additional tariffs. At the Swaminathan Shatabdi International Conference, PM Modi said that the interest of farmers is paramount for us. India will never compromise the interests of farmers, fishermen and dairy farmers. PM Modi said that India is willing to pay any price to protect its agricultural interests, even if business tension with the US is deepened. This statement is being seen as India’s strict reaction against the new tariff imposed by the US. This attitude of PM Modi shows that the government is not ready to bow down to any international pressure to protect the interests of agriculture sector.
Ministry of External Affairs did this very much
Damu Ravi, Secretary of Economic Relations in the Ministry of External Affairs, said on Thursday that this decision is neither rational nor is there any clear reason for it. He called the move “unilateral and chaotic”. Damu Ravi said that this is a unilateral decision. I do not think there is any argument or reason in the way it has been implemented. It is likely that this is a temporary phase, which we have to cross. The conversation is still going on, and we are confident that the solution based on mutual interests will be found over time. Ravi said that we were very close to the solution, but Trump’s executive order temporarily stopped the process. Nevertheless, the talks will continue.
Shashi Tharoor said-we should also answer
On Thursday, veteran Congress leader Shashi Tharoor said that if America threatens us, we should also answer. Tharoor said that we have a trade of $ 90 billion with the US. If everything becomes 50% expensive, then the buyers will wonder why they should buy Indian things? He further said that if America does this, India should also impose 50% tariff on American exports in response. It is not that any country can threaten us. We have applied an average of 17% tariffs on American goods. Why should we stay at 17%? We should also increase it by 50%. Tharoor questioned America that he did not appreciate our relationships? If India does not matter to them, then they should not matter to us either.
Economist said-there is no reason to panic for us
According to the ANI, Dr. Manoranjan Sharma, the chief economist of the Infamerix ratings, says that after the announcement of additional tariffs up to 25% on India, the level of total tariffs has now increased to 50%. This will have a serious impact on areas such as drugs and pharmaceuticals, textiles, electricals and electronics, gems and jewelery. So this is definitely a reason for us to be worried in India, but there is no reason for us to panic. It is necessary to remember that unlike China, India is largely a domestic economy, we have faced many storms in the past, such as the global financial crisis of October 2008 or even the Kovid-19 epidemic. So we are confident that it will cause some harm, but we will be able to face this shock confidently.
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