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Trump Doubles Tariff On Indian Goods; Amitabh Kant Calls It ‘Once In A Generation Opportunity’ | India News

New Delhi: US President Donald Trump increased trading tensions with India by increasing tariffs on Indian goods from 25 percent to 50 percent announced last month. The Movement aims to punish the new Delhi for claiming that Trump is the purchase of oil and military equipment from Russia.

Although the decision has increased concerns about the potential impact on trade and Indian exporters, former G20 Sherpa and former Niti Aayog CEO Amitabh Kant sees a different lens. According to him, this crisis can be an important turning point for India.

“Trump gave us an opportunity to get the next big leap on reforms. The crisis should be used exactly.”

The first 25 percent tariff was announced by Trump on July 30th. At that time, he accepted India as the US’s “friend”, but also published a harsh warning about Russian energy and confidence in defense materials.

“Even though we have been our friend of India, we have done relatively less work with them because they have been very high in the world, among the highest levels of the world, and they have always bought the largest size of the largest energy buyer from any country, and they have always purchased a great size in Ukraine!”

The additional 25 percent tariff, which brings a total of 50 percent, was officially announced by Trump on Wednesday evening.

The first task comes into force today at 9:30 on August 7. Annex 25 percent tax will be applied after 21 days.

How will the 50 % tariff affect India exports?

The steep tariff hike means a significant increase in the cost of exporting Indian goods to the US, making them less competitive in the American market. Most Indian exports will now face 50 percent or higher tasks.

The affected key sectors include shrimp, organic chemicals, carpets, textiles and clothes (knitting and weaving), jewels and jewels, steel, aluminum, copper, machinery and mechanical tools, furniture and beds.

In addition, vehicles exported from India will now face a 26 percent tariff and petroleum products will be taxed by 6.9 percent.

As new tariffs come into force, while India’s policy makers and businesses are closely monitored to measure economic sprinkles, some, such as Amitabh Kant, see it as a chance to coercion for the very needed structural reforms.

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