A reaction from the Government of India has come up a few hours after the announcement of 25 per cent of tariffs on Indian goods by US President Donald Trump. The official statement issued said that the government gives the most importance to the protection and welfare of the welfare of farmers, entrepreneurs and MSMEs. The government will take all necessary steps to protect national interests, as has been done in case of other trade agreements including the Economic and Trade Agreement with Britain.
Also read – US TARIFS on India: Trump said- India is our friend, but from August 1, 25% tariff will be taken and penalty will also have to be paid.
‘Trump’s statement is being done seriously’
The Government of India has said that it is seriously studying the impact of this statement and will take all necessary steps to protect India’s interests. The government said that India and the United States have been negotiating to finalize a fair, balanced and mutual profitable bilateral trade agreement for the last few months. India is committed to that purpose.
Trump announces 25% tariff and fine on India
Earlier today, US President Donald Trump announced a 25 percent tariff on India from 1 August. He wrote in a social media post- ‘Remember, India is our friend, but in the last few years we have done relatively less trade with him because his tariffs are very high, the most in the world, and compared to any country, he has the most rigorous and unpleasant non-moody trade restrictions compared to any country. In addition, they have always bought most of their military equipment from Russia, and with China, they are Russia’s largest energy buyers, at a time when everyone wants to stop murders in Russia Ukraine – everything is not right! Therefore, India will have to pay 25% tariffs from August 1 and a fine for the above.
FICCI’s reaction to tariff
At the same time, India’s business world has expressed concern over the imposition of 25% import duty on some products coming from India and imposition of secondary ban. Harsh Vardhan Aggarwal, president of the Confederation of Indian Industry (FICCI), said, “The decision to impose 25% tariffs on India and ban on India is disappointing. This will definitely affect our exports. However, we hope that this step will only be temporary and soon there will be a permanent trade agreement between India and the US.
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China also gave a befitting reply to America
China’s Foreign Ministry has also given a strong reply to the US warning that said that if China continues to buy oil from Russia, it could be imposed heavy tariffs (import duty). China has clearly stated that it will continue to decide according to its national interests keeping in mind its energy needs. The Chinese Foreign Ministry said in a tweet, ‘China will always ensure energy supply according to its national interests. No one wins in tariff war. Nothing is achieved by forced and pressure policy. China will strongly protect the interests related to its sovereignty, safety and development. ‘
