Washington (AP) – President Donald Trump said on Wednesday that he will impose 25% tariffs on goods from India, as well as additional import tax due to India’s purchase Russian oil,
Trump said on his true social platform that India is “our friend” but “tariffs are very high” on our goods.
Republican President It was added that India buys military equipment and oil from Russia, in which he said that he has enabled war in Ukraine. As a result, he intends to charge an additional “penalty” starting on Friday as part of the launch of his administration. Revised tariffs on many countries,
Comes after announcement A group of trade structure interacted With the European Union, Japan, the Philippines and Indonesia – all of whom said that Trump opened the market for US goods, while the US would be able to increase tax rates on imports. The President sees tariff revenue that is a way to help offset the budget deficit that are bound by their recent income tax deduction and generate more domestic factory jobs.
While Trump has effectively erased tariffs as a kudgel to reset the terms of the business, economic effects are uncertain as most economists expect a slowdown in American development under the pressure of recession and high inflation because the cost of taxes is passed with domestic businesses and consumers.
The Census Bureau reported that the US last year launched $ 45.8 trade imbalance in goods with India, meaning it was imported more than exports.
Among the population of more than 1.4 billion people, India is the largest country in the world and is a possible geopolitical imbalance for China. India and Russia are Close relationshipAnd New Delhi has not supported Western sanctions on Moscow on its war in Ukraine.
When Trump met Indian Prime Minister Narendra Modi in February, the US President said that India would start buying American oil and natural gas.
Trump discussed his policies on business and tariffs with reporters on Tuesday at a flight house after a five-day visit to Scotland. He refused to comment on being asked about the reports that India was asking for at least 25%US tariff, saying, “We are going to see.”
Trump also said that the outline of a trade agreement with India was not yet finalized.
Josh Bok, Associated Press
