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America’s 25% extra tariff on India has come into effect today i.e. August 27. Earlier, Trump imposed 25% tariff on India in July, now the total tariff on India has increased to 50%.
The major media around the world is covering this decision of Trump administration, know who wrote what …
CNN: Modi is going to China after 50% tariff, is there a matter of concern for America?
After the violent clash between India and China 5 years ago, there was tension in the relationship, but now after Trump’s economic pressure, the closeness between them has started increasing.
PM Modi will visit China for the first time since 2018 this week. He will meet Xi Jinping. In this era of Jio Political turmoil, the two leaders will focus on economic issues and join hands for mutual cooperation.
It remains to be seen how this journey will affect global relations. Should America worry about this? The newspaper quoted experts as saying that if America loses India, it will prove to be a ‘worst result’ for it.
New York Times: American tariff burden on India, punishment for buying Russian oil
US President Trump on Wednesday fulfilled his threat to impose 50 percent tariffs (import tax) on almost all goods coming from India. Half of this 50% tariff (25%) is due to purchasing Russian oil on India.
This will cause huge losses to the exporters of India who provide employment to millions of people. Also, this step can harm the growing economic relations between India and the US. India has trading in two-thirds of the world’s largest American companies in India.
This tariff can also destabilize billions of dollars of foreign investment in India’s stock market, which is the fourth largest stock market in the world. 50% of tariffs on India may weaken the strategy of American importers to reduce dependence on China’s factories.
BBC: Trump’s 50% tariff applied to India, PM Modi insisted on self -sufficiency
The US has implemented a huge tariff of 50% on India. US President Trump had recently ordered an additional 25% tariff on India for buying oil and weapons from Russia, which has been associated with already implemented 25% tariffs.
With this, India, which is a strong partner of America in the Indo-Pacific sector, has now joined the most tariffs in the world. This tariff is a major setback for India’s economy.
Until recently, the US was India’s largest trading partner, and the move could affect India’s export and economic growth. Livelihood of millions of people in export-based industries like textile, diamonds, shrimp is in danger.
PM Modi has taken immediate steps to face this crisis. Earlier this month, he promised tax cuts to reduce the economic impact of tariffs. On Independence Day, Modi gave the slogans of ‘Swadeshi’ and ‘Make in India’.
He appealed to small shopkeepers and businessmen to set up ‘Made in India’ boards outside their shops. Modi said, ‘We have to become self -sufficient, not in compulsion, but proudly. Economic selfishness in the world is increasing, we have to rise up rather than crying on our difficulties.
Associated Press: A big shock to India’s exports with American tariff
India is going to get a big shock from its biggest trading partner America. Since Wednesday, the US has imposed heavy tariffs on Indian goods, which will affect India’s export of $ 48.2 billion.
President Donald Trump had earlier announced 25% tariff, but this month he imposed an additional 25% tariff on India for buying oil from Russia. Overall, 50% tariff will now be applicable to Indian goods.
Indian officials say that this will make it difficult to export to the US, which may put jobs in danger and slow down economic growth.
According to New Delhi’s think tank, Global Trade Research Initiative, textiles, gems and jewelery, leather, food items and labor-dominated areas will be the most affected.
financial Times: Trump-Modi’s relations sour, American tariff on India reached 50%
The US has taken tough steps on buying cheap oil from Russia in India. On Wednesday, 25% of additional tariffs came into force to India, which is in addition to 25% already existing tariffs.
With this, one of the highest tariff rates in the world has been implemented on India. Trump announced this month that the tariff rate on India would be doubled, causing the tension between the two countries suddenly.
There was no agreement between the two countries in the trade talks, while the first phase of the trade agreement was to be completed by May. Indian analysts believe that Trump’s move is also to pressurize Russian President Vladimir Putin to end the Ukraine war. However, India has continued to buy oil from Russia.
The Guardian: Trump imposed 50% tariff on India as a punishment for buying Russian oil
Donald Trump has imposed 50% tariff on most US imports from India. Trump had threatened India to buy Russian oil, one of the world’s largest economies.
This tariff is in danger of huge damage to the Indian economy and disruption of the global supply chain.
With this move of America, Indian exporters are facing the most American charges on goods coming from abroad. America has put 50% tariff on Brazil like India.
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