Donald Trump President explained that business negotiations with India would remain suspended until the ongoing tariff dispute was resolved. Donald Trump has recently doubled tariffs for Indian imports for buying Russian energy in the middle of the Moscow War, Ukraine.
Donald Trump answered the question of whether business interviews in India could move forward after Washington doubled the obligations to Indian goods to 50 percent, and said, “No, not until we solve it,” signals a hard attitude in the middle
Trump’s tariff
The White House on Wednesday issued an executive order that deposited another 25 percentage points in the tarifts on Indian goods, thus increasing the total fee to 50 percent.
The Administration quoted concerns about national security and foreign policy and showed specifically on the continuous imports of Russian oil in India.
The order claims that these imports, whether direct or through intermediaries, represent a “unusual and extraordinary threat” for the United States and justify emergency economic measures.
Companies face problems
Since this week in India, India Donald Trump this week, Pearl Global clothing manufacturer – whose list of American clients includes GAP and Kohl – receives midnight panic calls with the ultimatum: share tariff intervention or move India production, Reuters reported.
To calm US customer nerves, Pearl Global offered to move production to 17 factories in Bangladesh, Indonesia, Vietnam and Guatemale to bypass steep US fees for Indian imports.
“All customers are already calling me. They want us to … move from India to other countries,” said Pallablaba Banerjee CEO in an interview to Reuters.
At the beginning of this week, the largest Indian jeweler and watchmaker Titan said to Reuters that he was looking at the Middle East production to keep access with a low tariff to the American markets.
AMIT AGARWAL, the financial head of the best Indian clothing manufacturer Raymond, said he had hoped for one company factory in Ethiopia – faced with only 10% of US tariffs and could add more production lines within three months to secure US clients.
(Tagstotranslate) US India Trade Talls (T) USA India Relations (T) USA tariffs on India
