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.
Amidst the ongoing conflict in the Middle East, the global oil crisis continues to deepen. In man
Union Home Minister Amit Shah has directed the administration to work on a war footing after susp
Famous Bollywood actor Rajpal Yadav is currently lodged in Tihar Jail in connection with a cheque
A political controversy has intensified regarding Jhargram in West Bengal. The TMC has alleged th
Indian team star batsman Rohit Sharma appeared in public for the first time since being removed f
US President Donald Trump has announced that impose a 25 percent additional tariff on India. The
For the first time as a political party, the Congress Working Committee is meeting in Patna. This
With the cost of higher education continuing to increase in India and abroad, education loans hav
Rohit Sharma: Rohit stopped fans from chanting 'Mumbai cha Raja Rohit Sharma', the video went viral
Indian ODI team captain Rohit Sharma is spending time with his family these days after retiring f
'Never accepted anyone's mediation in the matter of Pakistan', Jaishankar shows the mirror to Trump
Foreign Minister Dr. S Jaishankar showed the mirror to US President Donald Trump, who is claiming
