How much loss will India suffer due to Trump's tariff policy? The government is doing the calculation.

Posted on 18th Mar 2025 01:14 pm by rohit kumar

Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha on Monday that the government is assessing the impact of the 25 percent duty imposed by the US on steel and aluminum imports.

 

The minister said in a written reply that as per the announcement of the US President, the US government has imposed import duty from March 12. He said, as informed by the Department of Commerce, the impact of the above announcements on India is being assessed.

 

India's rating improved.

 

Responding to another question, the minister said that out of the 40 recommendations of the Financial Action Task Force, India has received compliance or largely compliance rating in 37. It received partially compliance rating in three recommendations and none was given non-compliance rating.

 

India was placed in the Regular Follow-Up category, which is the best possible rating given to any country being evaluated under FATF. There are only three other countries of the G-20 that have received this rating. This reflects India's strong position.

 

America will also suffer losses.

 

Some people also believe that Trump's tariff against India could become a noose around the neck for Americans as the prices of medicines in America may increase. Millions of Americans may have to pay more for their medicines.

 

According to a study by consulting firm 'IQVIA', Indian generic medicines saved $219 billion in 2022 alone. Experts say that without a trade agreement, Trump's tariffs could make some Indian generic medicines unviable. This could force companies to exit the market and worsen existing drug shortages.

Other news

Why Sunny Leone...? R Ashwin's cryptic post has confused fans; a big secret is hidden in the post!

Former Indian team leg-spinner Ravichandran Ashwin shared a post on his X (formerly Twitter) acco

Jammu Kashmir: MLAs clashed outside the assembly, a scuffle took place; huge uproar in the House over the Waqf law

There is a ruckus in the Jammu and Kashmir Assembly on the third day over the Waqf Act. National

The Bengal Files: Another FIR against 'The Bengal Files' director Vivek Agnihotri, Gopal Mukherjee's family makes serious allegations

The family of Gopal Mukherjee alias Gopal Patha, who played an important role in protecting Hindu

Will 'Daya Ben' make a comeback in Taarak Mehta Ka Ooltah Chashmah? She was seen with the show's director after years.

Director Asit Kumar Modi's comedy serial Taarak Mehta Ka Ooltah Chashmah is considered everyone's

Why did Donald Trump say, 'We could destroy the world 150 times'?

US President Donald Trump has made a sensational statement. In an interview, he said that the wor

Stray Dogs: Judgment reserved on the case related to stray dogs; SG said- issue needs to be resolved, Sibal said- debate is necessary

The Supreme Court on Thursday reserved its decision on a case related to stray dogs in Delhi-Nati

Jaishankar: 'India has the right to defend itself against hostile neighbors', Jaishankar warns Pakistan on terrorism.

Indian External Affairs Minister Dr. S. Jaishankar said in a statement on Friday that India will

Before the release of Border 2, KL Rahul joined this social media trend, and users commented, "Having fun with his brother-in-law..."

With just two days left until the release of Border 2, Sunny Deol, Varun Dhawan, and Ahan Shetty

Vijay Hazare Trophy: 15 fours and 8 sixes... Dhruv Jurel smashes his first List A century.

Indian wicketkeeper-batsman Dhruv Jurel has scored his first List A century. In the third-round m

Uttarkashi Cloud Burst: The reason behind the devastation has come to light; this is why the debris, along with water, came down rapidly, not once but twice

Due to the rising water level in Kheer Ganga in Dharali of Uttarkashi, the market and surrounding