JD(U) Spokesperson Rajeev Ranjan On Trump Tariffs
“We are confident about the fundamentals of our economy. The domestic market has to be further prosperous,” he said.
The United States has officially imposed 50% tariffs on Indian imports after the latest 25% duty, announced earlier this month by President Donald Trump, came into effect today at 9:31 am. The move doubles the trade tax on India.
Trump introduced the additional tariffs as a punishment for India’s purchase of oil from Russia. Meanwhile, India has called it “unfair, unjustified, and unreasonable.”
According to the US Department of Homeland Security, the new duties will apply to Indian products entering the American market from August 27, 2025.
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“We are confident about the fundamentals of our economy. The domestic market has to be further prosperous,” he said.
The latest US tariffs on Indian imports have raised concerns of a major setback in the relationship between Washington and New Delhi, according to NATO advisor Krystle Kaul.
Former Foreign Secretary and Rajya Sabha MP Harsh Vardhan Shringla remains hopeful that India will be able to conclude a “satisfactory mutually beneficial” Free Trade Agreement (FTA) with the US as 50 per cent tariffs kick in on Wednesday, highlighting the “close and special partnership” between Prime Minister Naredra Modi and Donald Trump.
The additional 25 per cent tariff imposed by US President Donald Trump on India for buying Russian oil comes into effect.
In the wake of Washington’s decision to levy a 50 per cent tariff on Indian goods, Fijian Prime Minister Sitiveni Ligamamada Rabuka on Tuesday said that Prime Minister Narendra Modi has the strength to cope with such pressures.
“The pressure on us may increase, but we will bear it all,” the prime minister said during a gathering in Ahmedabad.