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

'Rahul Gandhi roams around with a book, he...' Giriraj Singh took a dig at the Hemant government along with the Congress.

Speaking on the Emergency, Union Textiles Minister Giriraj Singh said that Indira Gandhi, in her

'Stop the 10-minute delivery option', Gig workers on strike today; what are their demands?

The countdown to the New Year has begun. In a few hours, the entire world will be celebrating the

After Jagdeep Dhankhar's resignation, every room of the Vice President's Secretariat was locked. Where did all the officers suddenly go?

Jagdeep Dhankhar recently resigned from the post of Vice President of the country. This decision

'Holi is against Sharia': Mohammed Shami's daughter played Holi, Maulana got angry, and said- 'Don't make fun of Sharia, it is a crime'

Maulana Shahabuddin Razvi, President of All India Muslim Jamaat, has strongly objected to cricket

After Bihar, the SIR issue heats up in Bengal, Rahul Gandhi opens front against BJP

During the Bihar Assembly elections, a fierce political battle erupted between the ruling party a

TCS Layoffs: After the announcement of layoffs, TCS shares fell by two percent. The company is laying off 12000 employees

Shares of Tata Consultancy Services (TCS) fell nearly two per cent on Monday. The company has sai

Hijab controversy: A female doctor, hurt by CM Nitish's behavior, left Bihar and did not join her job.

The hijab controversy involving Bihar Chief Minister Nitish Kumar has now transcended state bound

Bangladesh will take the next step only after receiving a response from the ICC; the suspense surrounding the T20 World Cup 2026 continues.

The T20 World Cup 2026 is scheduled to begin on February 7, 2026, but before the start of the tou

Is Yuzvendra Chahal dating RJ Mahavash? Yuji himself revealed the truth.

Indian cricketer Yuzvendra Chahal recently spoke openly about his personal life in Raj Shamani's

MUDRA: 'Nothing is impossible for the people of India', PM Modi spoke to the beneficiaries of Mudra Yojana at his residence

On the occasion of the completion of 10 years of Mudra Yojana, Prime Minister Narendra Modi inter