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

Rinku-Priya Engagement: Rinku Singh and Priya Saroj danced fiercely after the engagement, and big names gathered at the ceremony;

Indian cricketer Rinku Singh has tied the knot. On Sunday, the star player got engaged to Samajwa

Some were happy and some were sad when the Waqf Bill was passed. Sweets were distributed in Muslim areas of Delhi; effigies were burnt in Kolkata.

There was celebration in some places and sadness in others when the Waqf Amendment Bill was passe

Sitaare Zaameen Par Star Cast: 10 disabled basketball players of Sitaare Zaameen Par, who will give Gulshan a tough time

The trailer of Aamir Khan's much-awaited film 'Sitaare Zameen Par' has been released, in which Aa

Prabhas: Prabhas came forward to help the famous comedian admitted to the ICU, also appealed to other Tollywood stars

'Bahubali' fame actor Prabhas has done something that is being appreciated. Prabhas has come forw

IPL 2025: Controversy heats up between Eden Gardens pitch curator and KKR captain Rahane, know what the whole matter

The era of controversies has also started in IPL 2025. In a new controversy, Kolkata's Eden Garde

BSF Constable Returns: Pakistan bows down to India, hands over BSF Jawan Purnam Kumar

BSF jawan Purnam Kumar Shaw, posted in Ferozepur sector of Punjab, had inadvertently crossed the

TMC vs Centre: 'Over ₹1,290 crore released to Bengal for flood management', Centre responds to Mamata Banerjee's allegation

The central government on Tuesday rejected West Bengal Chief Minister Mamata Banerjee's allegatio

Masoom Sharma got into trouble after singing the song 'Chambal ke Daku' at Punjab University. Chandigarh Police took big action.

Chandigarh Police has registered an FIR against singer Masoom Sharma for singing the banned song

Jagdeep Dhankhar Resignation: Dhankhar broke protocol to meet the President; he had to wait for half an hour

Vice President Jagdeep Dhankhar broke protocol and submitted his resignation to President Draupad

'Famous on Instagram...' The person who threatened Salman Khan has been identified, the boy is mentally unstable

Famous Bollywood actor Salman Khan has been receiving death threats for a long time. The actor on