President Donald Trump
Donald Trump has brought his tariff whip along with becoming the President of America and has run it arbitrarily on the whole world. The US court also lashed him for this. But where is Trump going to believe, some statements are given. He has also imposed a 50 percent tariff on India. Due to this, the auto sector of the country is getting a shock from textile. Also, the software export industry i.e. IT industry is also afraid of tariff. The industry of over 283 billion dollars is in awe of tariffs.
According to the ET report, this industry, which is already struggling with AI and global abundance, is afraid of tariff. The technology outsourcing industry is worth about $ 283 billion, including companies such as Tata Consultancy Services, Infosys, HCLTech and Wipro. Which currently receives more than 60% of its revenue from America.
India will double loss
If the American government imposes tariffs on exports of services, it can cause double taxation as Indian software service providers already pay heavy taxes in the US and if the visa rules are further tightened, the cost of deployments in the US or its surrounding places can also increase quickly.
But till now the American government has not officially disclosed any such plan or idea. Peter Navaro, senior advisor of the US President’s trade and manufacturing matter, reposted a comment on social media this week, after which the fear has increased that all outsourcing and foreign remote workers may be targeted.
Trump’s attitude is getting cold
However, since the month of April, the attitude of President Trump, who has thrown the whole world in JD, is now seen to be cold. He said that I will always be a friend of PM Modi, he is a brilliant Prime Minister.