Jairam Ramesh shared a trivia about how in 1913, the US Constitution was amended to introduce a federal income tax and the economist who championed for the same was a mentor of Dr B R Ambedkar.
To achieve this, both leaders have decided to designate senior representatives to advance the negotiations. This move demonstrates their commitment to strengthening trade ties and promoting economic cooperation between the two nations.
China's finance ministry announced 15 per cent tariffs on imports of chicken, wheat, corn and cotton from the United States, as well as 10 per cent tariffs on imports of "sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products," Chinese state media said.
Canadian Prime Minister Justin Trudeau on Monday (local time) announced that retaliatory tariffs on US goods will go into force at midnight on Tuesday if the US tariffs on Canadian imports take effect.
He said that BRICS is dead and reiterated his threat to BRICS nations, saying he would impose a 100 per cent tariff on the bloc if they try to replace US dollar with any other currency.
An hour before his bilateral meeting with Prime Minister Narendra Modi, US President Donald Trump again commented on India's tariff structure, saying "they have the highest tariffs" and "it is a hard place to do business".
Trump's announcement comes ahead of his meeting with Prime Minister Narendra Modi who reached the United States today on an official visit. The two leaders are set to meet in the White House tonight.
While addressing a press briefing with Japanese Prime Minister Shigeru Ishiba, Trump said, "I'll be announcing that next week, reciprocal trade, so that we're treated evenly with other countries."
This comes after US President Donald Trump announced a 25 per cent tariff on imports from Canada and Mexico, as well as a 10 per cent tariff on goods from China, citing concerns over illegal immigration and the smuggling of drugs, including fentanyl.