Trump imposes 50% tariff on India as punishment for buying Russian oil | Trump tariffs
Donald Trump has implemented 50% tariffs on most US imports of US imports and did a good threat to punish one of the world’s largest economies of purchasing discounted Russian oil.
The tariffs that come into force immediately after midnight in Washington are at risk of damaging significant damage to the Indian economy and further disrupting global supply chains.
25% tariffs to the US goods of the United States entered into force at the beginning of this month, but Trump said that the new Delhi has doubled the Rate, referring to Russian oil purchases that Russia indirectly financed Russia’s war against Ukraine.
Since the US President was re -entering the White House in January, it significantly increased the tariffs of the United States, which pushed relations with allies and opponents and fuel the higher fear of inflation, on goods from most of the world.
This last move leaves Indian exporters, one of the highest US tasks that Trump slapped in overseas goods. Brazil is also struggling with 50% tariffs in exports to the USA.
The ministers in India argue that they have been unjustly elected because of the trade relationship with Russia and the authorities, and the country will probably work closer to Moscow and Beijing and as a result Washington.
According to the US trade representative, it is stated to the United States (87.3 billion dollars to the USA last year), although most Indian goods exports will be preserved, including smart phones for the time being, it is faced with steep tasks.
The action, which was confirmed in a statement made by the US Internal Security Department at the beginning of this week, encouraged some economists to foresee a rapid decline in trade between the two countries.
“I don’t care what India is doing with Russia, Tr Trump said in the real Social last month, the real Social. “They can bring their dead economies together, because everything I care about.”
In India, the mood would challenge. The country’s government refused to stop Russian oil purchases and Prime Minister Narendra Modi called on Indians to buy local.
Modi said on Tuesday, “We all have to follow the mantle of purchasing goods in India,” he said. “Pressure to us may increase [from the tariffs]But we will carry it ..
Goldman Sachs’ head of Indian economist Santanu Sengupta, 50%tax on the domestic product (GDP) growth of the growth of 6.5%of the level of 6.5%warned that it can push below 6%. Competing exporters from Türkiye to Thailand, faced with lower US tariffs, American buyers are gathering cheaper goods offers.
Approximately 30% of India’s exports to the United States-including $ 27.6 billion, including electronic, raw drug supplies and refined fuels, remain customs-free. However, sectors such as textile, jewelry and jewelry and seafood, which have long trusted the American market, face contraction order books. Sengupta, “a 50% tariff to export very difficult to export,” he said.
The effects are already visible. The Federation of Indian Export Organizations (FIEO), Tirupur, Delhi reported textile and clothing manufacturers, and Swing, stopped production due to the ısısız worsening cost competitiveness ”.
FIEO President SC Ralhan, “Indian goods, China, Vietnam, Cambodia, Philippines and other Southeast and South Asian countries have been made competitive compared to competitors,” he said.
Indian shares passed in front of the tariffs, the criterion fell to 80,876 in Mumbai on Tuesday, dropping 1%or 849 points or 849 points.
The United States, the largest export market in India, is about one -third of posts in key sectors such as jewelry, jewelry and textiles and emphasizes the potential economic impact.
Even if the tariff sequence alleviates, trust in future relationships with Washington is probably the biggest injured.
“Trump blows him up. The hard work between the two countries that naturally did not trust each other but still managed to establish a solid strategic relationship, now at risk,” he said. “Restarting will take a long time, and probably not until Trump comes out.”
“At the level of work, countries should cooperate, but cannot afford to look weak politically,” he said.
Foreign Minister S Jaishankar said Washington stopped buying the new Delhi’s Russian move “unfair and irrelevant, and accused the West of the West of hypocrisy and that Europe was traded more with Russia. To avoid the extra US tariff, India would have to change about 42% of oil imports.
While Trump accused India of indirectly financing Russia’s war against Ukraine with the purchases of Kremlin Crude Oil, he did not take a similar action against China, another great buyer.
In addition, Russia’s President Vladimir Putin invited Alaska to Alaska for a summit at the beginning of this month, and even as part of Russia’s efforts to invade Ukraine, Ukraine tried to spread with Moscow to hold a three -sided meeting with President Volodymyr Zelenskyy.
Despite the tensions, Jaishankar said that the US-India trade talks continued. “We are two big countries, we should make speeches… The lines are not cut,” he said.
India was cut after rejecting the hopes for a trade agreement that keeps agriculture by 15%, the Indian agricultural market to the US farm property, fear of harming the poor farmers of the country.
India returned to Russia, which he calls “all kinds of weathermate, and Jaishankar went to Moscow to meet Putin, who was expected to visit the new Delhi this year. Modi will also make his first trip to China in seven years to join the Shanghai Cooperation Organization Summit and aim to balance relations after a deadly 2020 Himalaya conflict puts ties into a deep ice cream.
“India will fly towards China, but it will not be in a complete embrace.
“Available [Trump] Management can break a record for its own goal with a best binary partner for such a short period of time, Mic says Senior South Asian Analyst Michael Kugelman.
