With the US President Donald Trump announcing 25 per cent tariff along with penalty on Indian goods, senior corporate lawyer HP Ranina said on Wednesday that the decision will affect the exports currently in the pipeline, but the tariffs are less than those on Chinese and Bangladeshi good
US President Donald Trump today, in a social media post on his Truth Social Account, announced 25 per cent tariffs on India starting August 1. Trump also said India will face additional penalties for purchasing oil from Russia.
"You (ruling) gave the slogan of 'Abki baar Trump Sarkar', but he sent our people shackled, said 30 times that he declared a ceasefire... What answer does PM Modi have on this?" she questioned.
Speaking to the reporters, Ashok Chavan said, "... I dont think President Trump's decision comes after a consensus or a mutual discussion. Our Minister of Commerce was in regular touch with the US administration... Any scope of appeal or discussion must be duly addressed so that India doesn'
Tewari described Trump's remarks as an unexpected acknowledgement of India's long-standing foreign policy principles, which date back to the country's first Prime Minister, Jawaharlal Nehru.
While some trade and industry leaders warned of short-term disruptions, others expressed confidence that India's strong manufacturing base, especially in sectors such as pharmaceuticals and medical equipment, would help it withstand the impact and forge new trade partnerships.
Terming the move by US President Donald Trump to impose 25 per cent tariffs on India on as a "setback for the country", Congress leader Jairam Ramesh on Wednesday said that Prime Minister Narendra Modi "should not be scared" and "this is blackmail by the United States".
Congress leader Jairam Ramesh said on Wednesday that Donald Trump imposing a 25 per cent tariff on India is a major setback for Prime Minister Narendra Modi and the country and that the US President cannot decide from where New Delhi will buy oil.