Will Trump's 'tariff war' affect India? Finance Minister Sitharaman gave the answer.


Posted on 3rd Feb 2025 01:21 pm by rohit kumar

US President Donald Trump, who claimed to end the Russia-Ukraine war, has started a 'tariff war'. The US has announced tariffs on Mexico, Canada and China.

 

Trump has decided to impose a 25 percent tariff on goods coming from Mexico and Canada and a 10 percent tariff on imports from China. All three countries are angry with Trump's decision, while the whole world is worried about Trump's decision.

 

Will the tariff affect India?

The question is whether the tariff imposed on the three countries will also affect India. Finance Minister Nirmala Sitharaman answered this question in an interview with news agency PTI. When asked whether this incident will affect India, she said, we do not know what the consequences will be for us. But we may be affected indirectly. We do not know yet what is going to happen. We will be cautious, but we cannot predict at this time what effect it will have on us. However, I am not worried about this incident.

 

"The Finance Minister further said, "I am looking at the situation of India, the economy of India especially when we want India to become a manufacturing hub. We have strength in our services sector, India's strength in software, artificial intelligence, and STEM-based research has increased significantly."

 

No benefit from unnecessary tariffs: Finance Minister

 

Nirmala Sitharaman pointed to the need for a balanced tariff approach. Domestic industries should be protected without imposing unnecessary tariffs on essential imports. Many items are not available in India, we are not going to benefit by imposing higher tariffs on them.

 

What tariffs did Trump impose on three countries?

 

This decision has been taken to promote America's domestic manufacturing and to control illegal immigration and drug trafficking. However, this may affect American consumers as expensive imports may increase the prices of goods.

 

Trump is trying to protect domestic industries in America from import competition. It is feared that this decision may further increase the inflation rate of America, which is already facing inflation.

1 Like 0 Dislike
Previous news Next news
Other news

Floods wreaked havoc in Mandi MP Kangana Ranaut's reaction came after four days; what did she say about the devastation?

MP Kangana Ranaut has expressed deep concern over the devastation caused by the natural disaster

Ajinkya Rahane did a post-mortem of KKR after the embarrassing defeat, lashed out at the batsmen for the bad season.

Kolkata Knight Riders captain Ajinkya Rahane on Sunday admitted that his team's bowling was excel

Coolie Release: Craze for Rajinikanth's 'Coolie'; Women reached the theatre in the rain with a puja thali and broke coconuts

The wait for Superstar Rajinikanth's fans is over, and their favourite star's much-awaited film '

Jaat Collection: Will Sunny Deol's Jaat spoil Sikandar's calculations? Huge earnings in booking 1 day before release

Bollywood actor Sunny Deol is currently in the limelight for his upcoming film 'Jaat'. This film

'India is not a dead economy, it is the fifth largest economy in the world', India gave a befitting reply to Trump's tariff!

US President Donald Trump, frustrated by India's tough stand on the trade agreement, declared the

How much devastation did the earthquake cause in Myanmar? ISRO released satellite images, and Mandalay City suffered the most damage

On March 28, a powerful earthquake struck Myanmar. Its tremors were felt till Thailand, Vietnam,

Raja Raghuvanshi Case: Gold, 5 lakh cash, and pistol... now the secret of Sonam's black bag will be revealed; property dealer arrested

In the Raja Raghuvanshi murder case, Shillong police have also arrested contractor Lokendra Tomar

'Everyone did vote bank politics, but Modi government...', All India Muslim Women Personal Law Board in support of Waqf Bill.

After the Waqf Amendment Bill was passed in both the houses, many politicians have come out in op

'Food of the poor', The Bengal Files director Vivek Agnihotri made fun of Marathi food

Director Vivek Agnihotri is a name in the cinema world who cannot be kept away from the limelight

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

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash