Indian exporters will collide with US tariffs up to 50 percent, since the administration of Trump of the highest fee enters into force from today, sources in the Indian government on Wednesday, August 27. These tariffs do not apply to Indian exports of steel, which is already falling under the 50 percent duties of section 232.
The highest level of tariffs introduced by the US administration occurred after the failure of trade negotiations between the two countries after the planned meeting was canceled at the beginning of this month, which intensified the tension, reported. Sources.
Previously, five rounds of Indian-American trade negotiations were aimed at restricting additional US tariffs at the level of 15 percent for India. However, the Trump administration introduced a new punitive 25 percent tariff for India for the purchase of Russian raw oil, accusing the country of indirect financing of the Russian war in Ukraine. Consequently, the total tariff for Indian imports was increased to 50 percent, combining the existing 25 percent fee with a new punitive tariff.
“The Indian government has no hope of any relief of the US Tariff Front. A 50 percent tariff is almost a trade embargo between the two countries, ”said the Indian official.
However, on Tuesday, the State Department of the United States and the Ministry of Foreign Affairs of India made identical statements, saying that senior officials of ministries and defense departments met almost on Monday and Monday expressed "desire
