International coverage catastrophe: Mallikarjun Kharge on contemporary US tariffs on India
“Narendra Modi ji, You stored mum when Trump claimed that he brokered the ceasefire. He has claimed a minimum of 30 occasions and counting. On 30 November 2024, Trump had threatened to impose a 100% tariff on BRICS nations. PM Modi was sitting there, visibly smirking, whereas Trump declared ‘BRICS lifeless’,” Kharge alleged.
The chief of Opposition within the Rajya Sabha stated Trump has been planning “reciprocal tariffs” since months now.
“All of us knew about it. You probably did nothing within the Union Funds to melt the blow on our key sectors equivalent to agriculture, MSMEs and numerous industries. Your ministers have been speaking about negotiating a commerce take care of America for months. A few of them even camped in Washington for a number of days,” he stated.
“You failed to barter a commerce take care of the US. You had greater than sixth months. Now Mr. Trump is intimidating and coercing us – however you retain quiet,” he claimed.
Noting that India’s exports to the US quantities to about Rs 7.51 lakh crore (2024), he stated a blanket 50 % tariff means an financial burden of Rs 3.75 lakh crore.
“Our sectors like MSMEs, Agriculture, Dairy Engineering Items, Digital Items, Gems & Jewelry, Drug Formulations & Biologicals, Petroleum Merchandise and Cotton made garments shall be harm probably the most. Your Govt is clueless the way to take care of it. You possibly can’t even blame this overseas coverage catastrophe on the 70 years of Congress!!” Kharge stated.
Trump on Wednesday slapped an extra 25 per cent tariff on items coming from India as penalty for New Delhi’s continued buy of Russian oil, a transfer that’s more likely to hit sectors equivalent to textiles, marine and leather-based exports onerous.
Trump signed an govt order – Addressing Threats to the US by the Authorities of the Russian Federation – imposing the extra tariff over an above the 25 per cent levy which comes into impact from 7 August.
After this order, the entire tariff on Indian items, barring a small exemption checklist, will likely be 50 per cent.
