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

Bhuj Air Force Station: Rajnath reaches Bhuj Air Force Station; Pakistan's propaganda exposed

Defence Minister Rajnath Singh on Friday visited Bhuj Air Force Station in Gujarat. Last week, th

Preity Zinta: Preity Zinta looked sad on the defeat of her team PBKS, but still patted Shreyas Iyer on the back

On Tuesday, the final match of IPL was played between PBKS i.e. Punjab Kings and RCB i.e. Royal C

Hindi Row: 'Hindi was the third compulsory language even during the Congress period, DMK never made Tamil...'; BJP on three language controversy

The language dispute in Tamil Nadu is deepening. Now BJP's Tamil Nadu unit president K Annamalai

Uttarkashi Cloud Burst: From Sara Ali Khan to Sonu Sood, stars expressed their grief over the Uttarkashi disaster and prayed

After heavy rains on Tuesday, a cloud burst in Dharali, Uttarkashi, Uttarakhand, causing terrible

Gautam Gambhir: 'ISIS Kashmir' threatens to kill Indian coach Gautam Gambhir, complains to Delhi Police.

Indian cricket team head coach and former BJP MP Gautam Gambhir have received a death threat from

All is not well between India and Bangladesh, relations turned sour after the trade war; Who is suffering more losses?

A trade war is going on between America and China, but along with this, a small trade war is also

Punjab Farmer's: Now the Punjab government is busy convincing the farmers, an important meeting will be held this evening; What is the AAP government going to do?

On March 3, Agriculture Minister Gurmeet Singh Khuddian will resume the broken talks between Chie

PM Modi-Team India: PM Modi took a dig at Player of the Tournament Deepti, saying, she must be controlling herself.

Prime Minister Narendra Modi met the champion Indian team at his residence in Delhi. During the m

'There is a big flaw in the system... Election Commission has also compromised', Rahul Gandhi raised the issue of Maharashtra elections in America

Leader of Opposition in Lok Sabha Rahul Gandhi has reached America. He addressed a session of stu

Opposition attacks Delhi blasts: CM Siddaramaiah expresses grief; Priyank Kharge says Shah is the most incompetent Home Minister

The opposition has targeted the central government and Home Minister Amit Shah over the blast nea