US President Donald Trump and Prime Minister Narendra Modi. (File photo)
Trump has announced a total of 50% tariffs on India. He has now increased the earlier 25% tariff to 50%. That is, now it has announced to apply 25% additional tariffs. Trump has put this extra tariff on India’s oil business from Russia. Trump has also signed this order. The first 25% tariff imposed of Trump will be applicable from August 7, while the new additional 25% tariff will be applicable from August 27.
The third big news related to tariff announcement is that Trump has also threatened India. It is said that if India protested after this, then we will increase the tariff further. Trump adopted a similar attitude against China. Later, China also put a counter -tariff on America, then America had to come on the backfoot. Now America has given 90 days exemption to China.
India was not a good business partner
Well, Trump gave a statement about it yesterday. It was said- India is buying oil from Russia. In lieu of oil business, Russia is making Russia powerful with money. India was not a good business partner. We had agreed on 25% fee on India, but in the next 24 hours I am going to increase it significantly. As soon as this 24 -hour period is completed, Trump has now heard his decree.
By announcing a total of 50% tariffs on India, bitterness and dissolutions have been given in the relationship between the two countries. Trump had earlier imposed a 50% tariff on Brazil. That is, this rate of tariff on both India and Brazil has now become equal. Amidst all this, politics has also intensified in India. The Congress surrounded the Modi government after Trump imposed 50% tariffs. Posts and raise questions by writing a post on X.
Trump’s 50% tariff economic blackmail
On Trump’s tariff announcement, Rahul Gandhi said- 50% tariff of Trump is economic blackmail. There is an attempt to threaten for an inappropriate trade agreement. At the same time, India’s strong response to the tariff came. The Ministry of External Affairs said, we oppose America’s move. Our oil is based on the import market. The decision to increase the tariff is wrong. Trump’s decision is unfair and unjust.
Now the biggest question is, what can be the impact of Trump’s tariff on India. Which sector is likely to be affected? So let us know that agricultural sector, diamond and jewelery, pharma sector, car and accessories, refined petroleum, readymade garments, broadcasting-telecom products, IT companies and textiles… all these sectors will be affected.
Export from India between April 2024 to March 2025
If we talk about exports from India between April 2024 to March 2025, then the export of engineering goods is $ 19 billion. The export of electronic goods is $ 14.64 billion and the export of the drug is $ 10 billion. James and Jewelery exported about $ 10 billion and readymade garments exported more than $ 5 billion.
India sends goods worth $ 87 billion i.e. 7 lakh 62 thousand crores every year. According to an estimate, if the tariff is implemented, then India can suffer a loss of more than one lakh crores. Export will be expensive due to 50 percent tariff. Trade surplus will decrease. The rupee may be weak. Now a look at those countries on which Trump has put a huge tariff. It has 2 countries on top of India and Brazil.