New Delhi
Reciperochl tariff imposed on about 180 countries by US President Donald Trump has come into force from today. As soon as 9.31 am in the morning, 26 percent tariff imposed on India came into force.
After this tariff imposed on India, from today, every Indian goods exported to America will be charged 26 percent. It is being said that this tariff can be affected by India on many levels.
In the US, the price of that goods will definitely increase by imposing 26 percent tariff on India’s goods. This can reduce the competition of Indian products there, especially compared to those countries which have been imposed less tariffs. India’s major export areas are electronics, gems and jewelery, automobiles and textile.
Trump’s reciperook tariff will affect drugs the most. Cheap medicines go from India to America. America takes more than $ 12 billion medicines and pharma products from India. In 2023-24, India’s trade surplus with the US was $ 35.32 billion. This surplus can be reduced by tariff.
According to the Commerce Ministry, exports of $ 73.7 billion from India while US $ 39.1 billion is imported. However, the US government figures are different from this. US figures show that $ 91.2 billion exports from India are imported by $ 34.3 billion.
Businessing with America has been a profitable deal for India because its import is less and more exports. Export may be reduced due to tariff.
But why tariff on India?
The friendship between Prime Minister Narendra Modi and US President Trump is well known. Both call each other a good friend. ‘Howdy Modi’ and ‘Namaste Trump’ rallies are also said to be a strong example of this. But Trump has described India as a tariff king on many occasions. Trump had said that India puts a lot of tariffs, it is very brutal. In such a situation, Trump has imposed 26 percent recipe on India.
According to the data of the World Trade Organization (WTO), the average tariff is the highest in India. The average tariff in India is 17 percent and 3.3 percent in the US. According to the report of Global Trade Research Initiative (GTRI), 37.66 percent tariffs are taken in India on food items, meat and processed food coming from America, while India used to pay 5.29 percent tariffs in America, US.
So far, India has been imposing 24.14 percent tariffs on automobiles and 1.05 percent tariffs. India charges 124.58 per cent on liquor and US 2.49 per cent tariffs. Cigarettes and tobacco have been imposed in the US 201.15 per cent and 33 per cent tariffs in India.
Trump believes that America’s trade deficit can be reduced with the help of tariffs. Trade deficit is said to be the situation when a country does more imports from another country but reduces exports. There is a trade deficit of about $ 45 billion between India and the US.
At the same time, the issue of Trump’s tariff can be discussed in the cabinet meeting at 11 am today. The Union Cabinet can discuss India’s strategy regarding the tariffs going to be implemented from today. It is being said that the government is in touch with exporters about this. The Ministry of Commerce can also hold a meeting with exporters today.
Soon, he will also levy heavy fees on medicines
US President and Tariff King Donald Trump has made another major explosion. After imposing mutual tariffs on more than 180 countries around the world on April 2, Trump has now announced that drug imports will soon be imposed.
Trump said on Tuesday that the US would soon announce a large tariff on drug imports. Speaking at a program by the National Republican Congressunal Committee, Trump said that with this tariff, pharmaceutical companies will have to set up their business in America.
104 percent tariff imposed on China
Since the midnight of Tuesday, a new rate of tariff has been implemented on goods coming to America from all countries. Meanwhile, Trump has announced 104 percent of tariffs on China. Earlier, the US imposed a total of 54 percent tariffs on China. In response, China also announced 34 per cent tariffs on American goods.
This erupted Donald Trump. Meanwhile, Trump on Tuesday accused China of manipulating his currency to avoid American tariffs. Trump said that you have to answer them. They are manipulating their posture today to reduce the effect of tariffs.
70 countries engaged in conversation
The Trump administration has imposed 26 percent tariff on Indian goods. The Trump administration says that there is talk on the issue of trade with 70 countries. There is an attempt to agree on a custom-maid deal with every country.
Trump talked to many leaders
Donald Trump spoke to Japanese Prime Minister Shigeru Ishiba on Monday and met Israeli PM Benjamin Netanyahu. Apart from this, he also spoke to the acting President of South Korea Han Duck-Su. The US is upset that China decided to impose a counter -duty instead of talks, while President Trump is ready to pick up the phone all the time.
