Hey everyone 👋 India just reacted sharply to US President Donald Trump signing an executive order for an additional 25% tariff on imports from India. The Ministry of External Affairs spokesman Randhir Jaiswal called it "extremely unfortunate" and labeled the move as "unfair, unjustified and unreasonable." 😮
The order, effective 21 days after announcement, will hike combined US duties on Indian goods to a whopping 50% (original 25% was already in place). All this is part of the US pressure campaign related to India’s oil purchases from Russia. 🛢️
India stresses its imports are driven by market factors and geared toward ensuring energy security for its 1.4 billion people. Now, New Delhi says it will take all necessary steps to safeguard its national interests. 🇮🇳⚖️
From trade spats to geopolitics, this one will ripple across markets and supply chains. For now, keep your eyes on New Delhi and Washington as the tariff saga continues. Stay tuned! 👀
Reference(s):
India dubs U.S. additional tariffs 'unfair, unjustified, unreasonable'
cgtn.com
