The tariffs that recently announced the US could have a serious impact on Indian exports to the US. Indian goods are expected to be much more expensive in the US, with the potential to reduce exports bound to America by 40-50 percent, said the Global Tank Tank Global Trade Research Initiative initiative on Wednesday.
The White House previously stated that the measures are deposited in response to the ongoing purchase of Russian oil in India, as stated by PTI.
The consequences of a new tariff
On August 6, Washington announced another 25 % tariff on all Indian imports, at the top of the existing 25 % duty, which reached 50 % since August 27. These new “reciprocal” tariffs come with their own set of consequences:
- A wide impact: The tariff threatens most of the Indian $ 86.5 billion annual exports to America, from textiles to machinery.
The founder of Global Trade Research Initiative (Gtri) Ajay Srivastava added to the consequences that in 2024 China bought Russian oil $ 62.6 billion, which is more than $ 52.7 billion, but country but country is not punished.
Why don’t the US focus on China?
Washington avoids targeting Beijing because of China’s dominance over critical minerals such as Gallium, Germanium, rare soils and graphite, which are essential for American defense and technology, he said.
Srivastava also added that the US also overlooked Russia trade, such as the European Union (EU), which brought $ 39.1 billion last year, including $ 25.2 billion in oil.
The US itself bought $ 3.3 billion in strategic materials from Russia, the press agency said. “The tariffs are expected to be much more expensive in the US, with the potential to reduce exports by 40-50 percent,” he said.
(Tagstotranslate) Trump’s tariffs
