Donald Trump
India’s target of US President Donald Trump has come to India completely. Now Trump has announced to impose tariffs up to 250 percent pharma sector. US President Donald Trump said on Tuesday that upcoming tariffs on impo rated drugs may increase by 250 per cent. Initially it will start from the lower level. He also said that he plans to impose new fees on foreign semiconductors. Trump knows that India is the world’s big exporter in Pharma. At the same time, India is also working fast with the semiconductor. Many companies are preparing semiconductor in India. In a few years, India will also be an importer of semiconductor. In such a situation, the US President is leaving no stone unturned to target India.
Tariff on pharma and semiconductor
In an interview to CNBC, Trump said that we will initially put some tariffs on medicines, but one year, one and a half years, maximum, it will be 150 percent and then 250 percent because we want drugs to be made in our country itself. Trump said that he would also announce tariffs on semiconductors and chips around or around the next week, but he did not say anything in detail. The US President has threatened to impose a weak tariff on the drug industry to force the pharmaceutical industry to come back to the US. Trump recently demanded the major suppliers of drugs to cut the cost heavy or face additional, unspecified punishment.
Tariff will be increased in 24 hours
Earlier, US President Donald Trump interview said that India has not been a good business partner and will significantly increase the fees on this South Asian country in the next 24 hours. Trump said in an interview to ‘CNBC Squalk Box’ that what people do not like to say about India is that it is the highest charge country. Its fee is more than any country. We do very little business with India because its charges are very high. He said that India has not been a good business partner. He does a lot of business with us, but we do not do business with him. So we tied up at 25 percent fee, but I think I will increase it considerably in the next 24 hours, because they are buying crude oil from Russia. They are providing fuel to the warship machine. And if they are going to do so, then I will not be happy.
Trump targets India
When asked about the trade agreement with India, Trump said that the hurdle with India is that its fees are very high. He said that now I will say that India will move beyond the highest fee so far, we will impose zero fee on us… but it is not enough given what they are doing with oil. Trump had announced a 25 percent duty on imported products from India only last week. Apart from this, he had also said to impose separate fine on India due to buying oil and gas from Russia.
Earlier, on Monday, President Trump said that he would increase the US fee on India. He accused India of buying a huge amount of Russian oil and selling it for huge profits. A few hours after Trump’s statement, India retaliated on the US and the European Union for targeting it in an inappropriate and indiscriminate manner to purchase crude oil from Russia. India has rejected the criticism of criticism and said that the US and the European Union have said to adopt dual standards, diverting attention to the ongoing business relations with Russia.