Aam Aadmi Party leader Raghav Chadha on Thursday took a swipe at the US imposing reciprocal tariffs on India and recalled lines of a popular Hindi number while stating that "Trump Tariff" could wreck the Indian economy.
Reacting to this, RK Aggarwal (National President, Bulk Drugs Manufacturers Association of India) said that it will have no impact on the pharma sector.
The Indian stock indices closed Thursday's session lower, weighed down by the heat of the US administration's reciprocal tariffs imposed on partner countries, including India.
Congress leader Randeep Surjewala on Thursday expressed concern over the 26 per cent tariffs imposed by US on India and criticised Prime Minister Narendra Modi over the issue.
Faced with President Donald Trump's reciprocal tariffs, India on Thursday said it is studying the opportunities that may arise from this new development in US trade policy.
The recent imposition of a 27 per cent reciprocal tariff on Indian exports by the United States, while exempting the pharmaceutical sector, has raised concerns about potential future trade restrictions on drug exports.
Congress top brass and the Leader of Opposition in the Lok Sabha, Rahul Gandhi, launched a sharp critique of the Union Government's foreign policy, spotlighting China's occupation of Indian territory and the recent US tariff hike.
US President Donald Trump's reciprocal tariffs will impact the American economy more, leaving them with limited buying options to cater for their needs, Ranjeet Mehta, CEO and Secretary General of industry body PHDCCI, told ANI.
Speaking on the US imposing 26% 'reciprocal' tariff on India, AAP MP Raghav Chadha said, "We used to listen to a song 'acha sila diya tune mere pyar ka'... India left no stone unturned to maintain the friendship. Even the union finance minister removed a tax called the 'Google tax' to protec
The imposition of reciprocal tariffs by the US President Donald Trump is set to slow down global trade significantly, according to a report by HSBC Research.
"... The friendship between them (US President Trump and PM Modi) and the way they embrace each other and talk and now these tarriffs. It shows that America (Donald Trump) is a businessman. 'Aur wo humara customer phas gaya'. (And our customers are getting trapped."
India will review and assess the impact of reciprocal tariffs, said Union Minister of State for Finance Pankaj Chaudhary on Thursday, reacting to the 27 per cent tariffs on Indian export to the US.