On Friday at 1 p.m., Prime Minister Narendra Modi will preside over an important high-level Cabinet meeting to discuss the effects on Indian exports of the recent sharp tariff increase imposed by the United States.
The action follows the US decision to increase taxes on Indian exports to a total of 50%, which has led to a rise in trade tensions between the two countries.
It is anticipated that the meeting will cover India’s strategic reaction to the US action.
US President Donald Trump announced the most recent round of tariffs on Wednesday, raising them by an additional 25%. He attributed this to India’s ongoing purchases of Russian crude oil. This is in addition to the 25% tax that was already in place and went into force on July 20.
The Ministry of External Affairs strongly criticized the US action, calling the ruling “unfair, unjustified, and unreasonable” and asserting that India’s strategic sovereignty and energy requirements must be respected.
Shortly after the new tariffs went into effect, Prime Minister Modi made a public statement in which he reaffirmed his government’s steadfast support for India’s farmers, livestock owners, and fishers.
“The interest of farmers is our top priority,” he stated Thursday at the MS Swaminathan Centenary International Conference in Delhi. The interests of India’s farmers, livestock owners, and fishermen will never be compromised. I am prepared even though I am aware that I will personally have to pay a heavy price for this. For the benefit of its farmers, fisherman, and livestock owners, India is prepared.
On Thursday, Trump said he would not negotiate the tariffs with India. When a reporter asked him if he anticipated further negotiations after the announcement of the 50% tariff that will go into force on August 27, he responded, “No, not until we get it resolved.”
Read More
Today, the SC will hear a request to restore J&K statehood
Due of the coal project, the foreign media portrayed us as villains in Australia: Adani Gautam