#TRUMP Announces 25% Tariff On India Along With Penalty๐ฎ๐ณ๐ฅ
In a move that has sparked significant international attention, US President Donald Trump has announced a 25% tariff on Indian goods, citing high tariffs and non-monetary trade barriers as key issues. This comes ahead of an August 1 deadline as both countries work on a trade agreement. ๐
๐ฌ Trumpโs Statement:
Trump criticized India for its high tariffs, calling them some of the highest in the world, along with the countryโs stringent trade barriers. He claimed that the US and India have had relatively low trade exchanges due to these obstacles.
While initially hinting at a 20-25% tariff, the President later confirmed the 25% tariff along with a penalty on Indian goods. ๐จ
๐ฐ Indiaโs Response:
Indiaโs government has acknowledged the move, stating that they are currently studying its implications. ๐ฎ๐ณ The Ministry of Commerce is already in regular contact with the US to discuss possible responses and resolve the situation diplomatically.
๐ด BJPโs Reaction:
Ashok Chavan, a BJP MP, stated that the tariff decision seemed to lack mutual discussion. He emphasized that Indiaโs Commerce Minister had been in constant touch with the US administration and that India should explore appeals or negotiations to minimize potential losses from the tariff imposition. โ๏ธ
๐ฎ Whatโs Next?
As both countries prepare for reciprocal tariffs to take effect, the international community is waiting for further developments. This escalating situation underscores the ongoing trade tensions between two of the worldโs largest economies. ๐
Stay tuned as the US-India trade deal unfolds and its impact on global markets continues to be felt. ๐๐
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