America, which has increased India’s concern by putting 50 percent tariff, is seen to be kind to the neighboring countries of India. The US is taking a soft attitude with countries like Bangladesh, Pakistan, Sri Lanka, China and Afghanistan by putting pressure on India. Very few tariffs are being charged from these countries, while the trade with some countries of America is much less than in India.
America is collecting 5 major neighboring countries of India, less tariffs. The surprising thing is that only 30 percent of the tariff has been imposed on the China which is considered to be the largest competition in America, while China is also one of the Russian oil buyers. Similarly, the US has retained only 19 percent on Pakistan, 20 percent on Bangladesh, 20 percent on Sri Lanka and 15 percent on Afghanistan. The surprising thing is that if left to China, the exports of all other countries to America are less than in India.
How much will India suffer loss
The tariff imposed on India by the US has come into effect from August 27. According to a report, due to this extra tariff, India’s exports can suffer a loss of about ₹ 5.4 lakh crore, because increasing tariffs will make the goods from India such as James-Jewelry, Furniture, C Food and other products expensive. This will reduce their demand. Second country will make them available at a low price. Not only this, there is also a danger of going to export industries in India.
What will happen next?
The US has imposed 25 percent extra tariff to buy oil from Russia. Recently, former RBI Governor Raghuram Rajan said in an interview that India needs to reconsider oil imports from Russia, especially when the US has imposed 50% tariff on India due to buying oil from Russia. He further said that it has to be seen who is benefiting from this and should avoid loss.