Today, the same word is trending all over the world and that word is tariff. Today is 1 August and from today onwards, America’s last deadline over tariffs has ended. The White House has said in its latest statement that the new rates of tariffs will be effective from August 7 and countries which have not been informed yet, will be informed from 3 to 4 pm tonight. This will be in America from 4 to 5 pm.
So far there are only 33 countries in the world with whom America Has finalized the trade agreement. Whereas more than 120 countries have not yet made any deal with America. These include India.
India’s position and attitude
There is a lot of politics on this issue in India. But the government has clarified that it will not compromise on matters related to agriculture, farming, non -vegetarian dairy products, genetically converted crops and religious sentiments.
Non -vegetarian dairy products and GM crops
Non -vegetarian dairy product means cattle milk, which is given in the US with fodder made of meat, fish and chicken residues. Genetically transformed crops are those whose seeds are converted into a lab so that the yield is high and there is no damage from insects.
Limited impact on India’s economy
The government says that the new tariff rates will not have a big impact on India’s economy. GDP may decline by only 0.2 percent even in bad condition.
Origin of word ‘tariff’
The word tariff comes from the word ‘T-Rif’ of the Arabic language, which means ‘to inform’. European traders adopted it as tax.
Debate on tariff in India too
Today, when the world is under the tension of tariff, tariff is being debated in India too. Some people are questioning the friendship of Prime Minister Narendra Modi and President Donald Trump.
It is not necessary to please Trump
Some people are of the opinion that if India had given the credit of ceasefire to Trump, they could have avoided tariffs on India for some time. But when Trump had no role, why would India lie? Those who are criticizing the government, they do not even understand that even if there is no tariff, they would say that there has been an internal setting.
Opposition politics
When power and opposition should have come together on this issue, politics is still being done. It is being introduced as if America has deals with the whole world and isolated India, which is wrong.
More tariffs than India on many countries
The reality is that the US has imposed 39 percent on Switzerland, 35 percent on Canada, 50 percent on Brazil, 30 percent on South Africa, 40 percent on Myanmar, 2 percent on Mexico and 20-20 percent on Sri Lanka and Bangladesh.
Government criticism on tariff in India
In these countries, the people are criticizing America, not their government. But it is happening in India.
India’s thinking and attitude
Prime Minister Modi refused to give US companies open exemption in the Indian market as it would have harmed domestic industries.
Brazilian example
Brazil did not deal with a 50 percent tariff on America and clearly said that it would not compromise his interests.
Countries dealing with America
So far only 33 countries have dealt with the US, of which the European Union (15 Percent), Britain (10 percent), Vietnam (20 percent), Indonesia (19 percent), Pakistan (19 percent) and South Korea (15 percent) are included.
India’s consumer market
India is the largest population country in the world and by 2030 its consumer market will increase by 46 percent. People of India spend heavy on their needs.
American companies dominate India
Amazon’s share in India 32 Percentage, 23 percent of Apple, Google’s operating system is 95 percent in smartphones and YouTube has 50 million users. WhatsApp, Facebook and Instagram are also the most users in India.
India is the biggest market for American companies
When China and Russia have banned American tech companies, India remains the largest market for them.
Also read: Trump again provoked the fire of global trade war with tariff, know what will happen
Who carries out the burden of American tariff?
India is accused of tariffs on American products, causing damage to America. But the truth is that this tax is paid not by American companies, but customers in India.
Defense of local industries
The government imposes tariffs so that Indian companies can get protection and generate employment. If there is no tariff, foreign companies will eliminate local industries.
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