Congress MP Shashi Tharoor on Tuesday said that the tariffs imposed by the Trump administration have shaken the whole world. He said that India's main hope is to effectively negotiate a bilateral trade agreement with the US. He expressed concern over the impact of US import duties on some countries.
Shashi Tharoor said that it is not just about our stock market. Our stock market has fallen less than many other stock markets, while the US stock market has fallen more. Our market has gone down by 3%, while their market has gone down by 9%. This situation is very disappointing.
Many countries may face a recession
Shashi Tharoor further said that the US tariffs have shaken the economy of the whole world. Due to this, many countries may face recession. He said that from India's point of view, the main hope is to effectively negotiate a bilateral trade agreement with the Americans. Some people were hoping that our competitor countries have imposed tariffs much higher than ours, but they are also negotiating now.
India will emerge stronger from the impact of tariffs: Puri.
Meanwhile, Union Minister Hardeep Puri expressed confidence that India will emerge stronger from the impact of US tariffs. He said that India will perform well due to the leadership of Prime Minister Narendra Modi. US President Donald Trump has reiterated his stand on reciprocal tariffs since taking office. He stressed that the US will match tariffs imposed by other countries, including India, to ensure fair trade. At the same time, some countries have retaliated in the face of Trump's reciprocal tariffs. They have imposed additional tariffs on US goods, increasing trade tensions. However, India has not taken any such step, as both countries are actively working on a trade deal.
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Earlier on Monday, US Secretary of State Marco Rubio and External Affairs Minister S Jaishankar discussed tariffs. According to US State Department spokesperson Tammy Bruce, the purpose of the discussion was to move towards fair and balanced trade relations.
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