US President Donald Trump has given a big blow of a 50 percent tariff on India. This tariff is double the 25 percent tariff announced last month. Trump has imposed this strictness on India because it purchased oil from Russia.
This news has spread disappointment in Indian trade and industries, but India's former G-20 Sherpa and former CEO of Niti Aayog Amitabh Kant is considering it as the 'golden opportunity of the century'. He says that this crisis can lead India towards big reforms.
Kant wrote on X, "Trump has given us a unique opportunity to take the next big step in reforms. This crisis should be fully exploited."
He believes that India can take advantage of this opportunity and take its economy to new heights.
When will Trump's additional tariff come into effect?
Trump announced an additional 25 percent tariff on Wednesday evening, after which the total tariff became 50 percent. The first tariff has come into effect from 9:30 am today, August 7, while the additional tariff will be effective after 21 days. This step has been taken in response to India's buying oil from Russia.
Trump wrote on his social media site Truth Social, "India is our friend, but their tariffs are the highest in the world. Their non-monetary trade rules are also very strict. Also, India buys the most military equipment and energy from Russia, which is not good at this time."
What will be the effect of the tariff on India?
A 50 percent tariff will make Indian goods expensive in the American market. Most products like shrimp, organic chemicals, carpets, clothes, gems and jewellery, steel, aluminium, copper, machinery, furniture will be charged a 50 percent or more tariff. There will be a 26 percent tariff on vehicles and a 6.9 percent tariff on petroleum products.
This can have a big impact on India's exports. Due to an increase in the price of Indian goods, their demand in America may decrease, which will affect the trade.
The results of the Vice Presidential election have been announced. NDA candidate CP Radhakrishnan
Amidst the devastation caused by devastating floods and landslides in North Bengal, and the deadl
After the immense popularity of the first season in 2022, the second season of the popular series
The Central Water Commission on Friday said that 22 river monitoring stations across the country,
The former Tamil Nadu Congress chief has made a controversial statement about Kangana Ranaut. He
India is once again witnessing a massive surge at the box office, thanks to Aditya Dhar's spy-act
Russian President Vladimir Putin is arriving in India today on a two-day visit. This visit will b
Rules Change: From LPG, UPI to Railways, these major rules have changed from October 1
The month of October has begun today. The new month brings new changes. These changes directly im
IND vs AUS: Team India leaves for Australia in batches, Virat and Rohit also catch a flight
The Indian cricket team is touring Australia to play three ODIs and five T20Is. The ODI series be
Nature's wrath is being seen in many states of the country at this time. Many areas of Punjab hav
