By Admin 
Us tarifs on india: US President Donald Trump cited a huge trade deficit with the BRICS Group and New Delhi on Wednesday behind his decision to impose 25 percent tariff on India. Along with this, he said that America is currently talking to India. At the White House, President Trump said, “We are currently talking and it includes the issue of BRICS.” He further said that BRICS is basically a group of anti -America countries and India is a member of it. This is an attack on American currency and no one will be allowed to do this.
Business deficit hawala
President Trump also announced an additional fine on the purchase of crude oil and military equipment from Russia. He said that this decision has been partially taken due to BRICS and also has a role of trade deficit. He said, “As you know, Prime Minister (Narendra) Modi is my friend, but he is not very much associated with us in terms of business.”
What will be the effect?
By imposing 25 percent tariff on goods imported from India, products like smartphones, clothes, auto parts and gems and jewelery will become expensive in the US. According to the report by Reuters, the major items that India supplies to the US include smartphones, automotive components, polished diamonds, readymade garments and medicines. This means that now American consumers and companies will have to pay higher price for these essential things.
Recently, an analysis conducted by Counterpoint Research said that India has become a major center of smartphone construction. Many mid-range from Android phones to American brands such as Apple phones are also being made. In such a situation, imposing 25 percent tariff on imports from India will mean – these goods become expensive for American consumers. According to the forecast of the Associated Press and Yale Budget Lab, the price of these products in the US can increase by about 17 percent with the implementation of this tariff.
Let us know what items were exported from India last year and how much tariff had to be given to it-
Machinery and electrical equipment was exported from India to US $ 17.2 billion during the financial year 2023-24. 0.6 percent tariff had to be given on this. Jewelery exports were $ 9.9 billion and it imposed a 24 percent tariff. Clothing exports were reduced to $ 9.6 billion from India and it imposed a tariff of 9.0 percent. Along with this, the export of drugs was increased to $ 8.1 billion in the US and there was no tariff on it. The chemicals were exported to $ 4.8 billion and the tariff rate on it was 2.5 percent.
The mineral products were exported from $ 6.0 billion in FY 2023-24 from India and had a tariff of 6.4 percent. Apart from this, animal products were exported for $ 2.1 billion and it imposed a tariff of 0.6 percent. The aircraft was exported to $ 0.5 billion, which imposed 1.8 percent tariff. Apart from this, the export of shoes was reduced to $ 0.4 billion and they had a tariff of 5.8 percent.
Also read: Apple’s shock to Trump’s 25 percent new tariff on India, iPhone may increase price