Congress MP Shashi Tharoor on Thursday noted the impact of 25 percent tariffs declared by US President Donald Trump on the Indian economy and called the matter very “serious”, which would “destroy” India’s trade with the US.
On US President Trump’s remarks of the dead economy, Congress MP Shashi Tharoor told Annie, “This is a very serious matter for us … 25, as well as an unspecified penalty to buy our oil and gas from Russia, it can take up to 35-45 … even will destroy our business. Because America is a very big market for us …
The Congress leader said that the US administration also has to take into account the “needs” of the Government of India.
“On the other hand, if their demands are completely inappropriate, our negotiators have every right to oppose … America has to understand our needs.
Earlier today, former Union Home Minister and Senior Congress leader P Chidambaram excavated Prime Minister Narendra Modi and said that the United States is a “major setback” for India’s trade with the US to buy 25 percent tariffs and Russian oil on all Indian exports.
Chidambaram called tariffs a “big shock” for India’s trade, and also argued that they were “clear violations” of the rules of the World Trade Organization.
In a post on X, Chidambaram said, “25 percent tariff on all Indian exports of the United States, Penalty to buy Russian oil is a major setback for India’s trade with US ‘friendship’, which has no choice for diplomacy and painful negotiations to tariffs imposed by the US, a clear violation of WTO rules.”
This was announced after US President Donald Trump, in a social media post on his true social account, 25 percent tariff on India starting on 1 August.
Trump also said that India would face additional punishment for buying oil from Russia.
“Remember, while India is our friend, we have a relatively low business in the last few years, because their tariffs are very high, which is the highest in the world, and they have the most loud and unpleasant non-modern business obstacles in any country. Also, they are always Russia as well as Russia’s biggest buyers,-all things are not good! (AI)
