US imposes additional 25% tariff on India amidst trade tensions over Russian oil deals

US President Donald Trump on Wednesday slapped an additional 25 per cent tariff on goods coming from India as penalty for New Delhi’s continued buying of Russian oil.

Trump signed an executive order imposing the additional tariff less than 14 hours before his initial tariffs were to come into effect.After the order, the total tariff on Indian goods, barring a small exemption list, will be 50 per cent.

While the initial duty becomes effective on August 7, the additional levy will come into effect after 21 days.Trump on Tuesday said India has not been a good trading partner and announced that he will raise the tariffs on New Delhi “very substantially” over the next 24 hours because it is buying Russian oil.

 

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[Mc Addy]

Exactly what are we exporting to US?

 

[pgahlot]

As I always say, US is not reliable and they can backstab any time. This is proved again.
US, Europe, Japan, South Korea, UK and most importantly China trade with Russia, but 50% tariff only on us and Brazil.
We should stop exporting all medicines, car parts, and energy to US. Joker Trumpet will come on his knees just like he did against China.

 

[pgahlot]

Exactly what are we exporting to US?

We export medicines and medical appliances and accessories, Jewellery, Fruits, vegetables, and spices, Refined Petroleum, Rice, Textiles and Apparel, Automotive Components, Chemicals and Petrochemicals, Machinery and Diamonds.
Out of these Joker kept medicines and medical appliances, Refined Petroleum, Automotive Components and Chemicals and Petrochemicals out of tariff war, as these things will hamper them very much.
They import 40% of their generic medicines from us. We buy Russian oil, then refine it and sell it to Europe and US at good rate. So without these, US will get hampered more.

 

[Radium]

As I always say, US is not reliable and they can backstab any time. This is proved again.
US, Europe, Japan, South Korea, UK and most importantly China trade with Russia, but 50% tariff only on us and Brazil.
We should stop exporting all medicines, car parts, and energy to US. Joker Trumpet will come on his knees just like he did against China.

Every time Trump raises China's tariffs, China will counter within 24 hours and impose retaliatory tariffs on the United States. Trump has raised tariffs on India again and again. Why hasn't he seen Modi's countermeasures?

 

[智子 伊瀬]

We export medicines and medical appliances and accessories, Jewellery, Fruits, vegetables, and spices, Refined Petroleum, Rice, Textiles and Apparel, Automotive Components, Chemicals and Petrochemicals, Machinery and Diamonds.
Out of these Joker kept medicines and medical appliances, Refined Petroleum, Automotive Components and Chemicals and Petrochemicals out of tariff war, as these things will hamper them very much.
They import 40% of their generic medicines from us. We buy Russian oil, then refine it and sell it to Europe and US at good rate. So without these, US will get hampered more.

The USA is the largest oil producer in the world. As a rule, APIs from China and India are of lower quality than European, Japanese or American ones. In fact, India does not supply anything particularly critical, it can be replaced by analogues at a higher price.

Even the EU (27 countries) has a smaller trade turnover with Russia than India. The EU economy is almost 5 times larger than India's.

 

[智子 伊瀬]

Every time Trump raises China's tariffs, China will counter within 24 hours and impose retaliatory tariffs on the United States. Trump has raised tariffs on India again and again. Why hasn't he seen Modi's countermeasures?

Xi can impose a tariff of 1,000,000%, but it will only increase the gross national debt even more. It is already 330% of GDP, at this rate it will soon catch up with Japanese debt😂