US President Donald Trump has imposed new tariffs on India, escalating trade tensions. Trump has decided to impose a 25 percent tariff on India. There has been a stir in India after this shock from Donald Trump. Let us tell you that the tariff can directly affect India’s exports as well as common consumers. This tariff will be implemented in two phases; the first phase will start on August 7, in which a 25% tariff will be imposed. At the same time, the second phase will be implemented from August 27. That is, now a total of 50 percent tariff will be applicable to India. Donald Trump claims India is supporting Russia. Donald Trump says that India is buying oil from Russia and selling it in the market and making profits. Along with this, Trump said that India does a lot of trade with us, but we do very little trade with it because it imposes heavy duty on us. This is the reason why we have decided to impose an additional 25 percent tax on India. Not only this, but Trump also says that if India responds, he will increase the tariff even more. After this decision of Trump, the relations between America and India have soured a lot, and this is considered to be a turning point for the US-India relations. The Indian government has called this decision of America unfair. PM Modi has given a strong reply to Trump’s tariff bomb.
PM’s reply to Trump’s tariff
Prime Minister Narendra Modi on Thursday responded to the 50 percent tariff imposed by Donald Trump. Speaking at an event in Delhi, he said, ‘The welfare of our farmers is India’s top priority. We will never compromise on their interests. He said that I know that I will personally have to pay a huge price, but India is ready for this. We believe that the strength of our farmers is the foundation of the nation’s progress. Therefore, we are constantly working towards increasing the income of farmers and creating new sources of livelihood. Prime Minister Modi’s statement is being viewed as a reply to President Trump’s 25% tariff on Indian goods.
Pressure may also increase on Russia
India is one of the biggest countries buying oil from Russia. Trump has also warned Russia that if Russian President Vladimir Putin does not take necessary steps to end the war in Ukraine, then America will impose more economic sanctions on Russia. Along with Russia, its allies will also have to pay the price for this. Clearly, this ban has been imposed to target Russia’s oil and energy industry.
