By Admin 
Trump Tariff: US President Donald Trump’s 26 percent tariff imposed on India has come into effect from Wednesday. Meanwhile, the stock market also saw a decline today amid the concerns of the global trade war. The stock market has continued to decline since Trump’s announcement of tariffs last week. In view of this, there will be an important meeting of the Union Cabinet today, in which a strategy will be made on ways to reduce this decline.
India adopted cautious stand on tariff
A good thing for India is that Trump has excluded semiconductor, copper and pharmaceuticals from the list of tariffs. Let us know that India supplies about half of America’s generic medicines. However, Trump’s tariff will have an impact on the export of many big sectors like auto parts, jewelery, james.
According to the IndiaTude report, the government is constantly in touch with expoters to reduce the effect of tariffs. Trump has said so many times that India has repeatedly misused trade relations. The government has taken a cautious stand on the issue of tariffs. Sources say that India is not in favor of retaliation on it.
Instead, the government is actively working on the US-India Trade Agreement, which was announced during Prime Minister Narendra Modi’s visit to America earlier this year. In March, the two countries agreed to bring bilateral trade agreement (BTA) to $ 500 billion by 2030.
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